Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
It is no secret that the modern economy has changed the employment relationship between workers and companies. Many companies have responded to cost pressures by changing how they...
Posted by Taxes Made EZ Inc on 09/10/2022
The tax year is here again, and people should expect fake IRS letters from scammers. Since Uncle Sam is sending out bills or notices to taxpayers, many scammers are exploring this...
Posted by Rosovich & Associates, Inc. on 09/02/2022
The IRS requires 1099 forms to obtain information on various nonemployee transactions, including payments to freelancers and legal services. Sounds simple, doesn't it? Keep track...
Posted by Pat Raskob, Emeritus on 03/24/2022
The TCJA(Tax Cuts and Jobs Act) may have brought major changes to how income is taxed, but the choice of application remains the same. Taxpayers can still mail or e-file their tax...
Posted by Taxes Made EZ Inc on 02/28/2022
We recommend that you keep some documents and files longer than others. It really depends on the document and your business.With the exception of some guidelines from government agencies,...
Posted by Dennis Jao on 12/10/2021
What is a tax identification number?The Tax Identification Number (TIN) is a 9-digit number used by the Internal Revenue Service (IRS) for tax purposes. This number can be a person's...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/09/2021
It's almost tax season, which means if you're a small business owner, or an individual looking for tax experts or accountants, you're probably looking for someone to help...
Posted by Pat Raskob, Emeritus on 09/03/2021
Starting a business in the United States as a foreigner can be a tad difficult, but the country makes it very easy to register your business and start a business. Learning English...
Posted by KLSM CPA Firm PLLC on 08/06/2021
