All businesses have to pay different types of taxes, some easier to understand than others. Corporate taxes are of different types: federal, state, and local.There are also different...
Posted by Abundant Wealth Planning LLC on 03/28/2021
As an individual, your taxes are one of the most important things to get things right. The IRS can hound and penalize you in an instant. That is why you need to make sure that you...
Posted by Aurelia E Weems CPA on 03/28/2021
Taxation of trust fund incomeDeath and taxes are two things that you cannot avoid in life. While there are ways to minimize your tax participation, you certainly can't get rid...
Posted by Carmen Garcia on 03/09/2021
The beneficiaries of a trust generally pay tax on the distributions they receive from the trust income, then the trust pays for the tax itself. However, these beneficiaries are not...
A Coverdell education savings account, also known as CESA, is a tax-deferred trust account. It is a creation of the Federal government to help American families fund educational expenses...
Posted by Unifirst Financial & Tax Consultants on 02/22/2021
Choosing a business structure requires a calculation that balances tax and legal benefits with costs and time to set up. It is one of the most critical decisions you will make when...
Posted by Taxes Made EZ Inc on 02/12/2021
The IRS recently made its first foray into expanding the tax capital reporting requirement for 2020, which will apply to all partnerships. The IRS press release summarizes the proposed...
Posted by Aurelia E Weems CPA on 01/18/2021
Everyone with estate or trust will have an income, which will reflect on Form 1041 - United States Income Tax Return for Estates and Trusts. Beneficiaries of trust and estate that...
Posted by The TaxAdvocate Group, LLC on 01/07/2021
The Federal Fuel Tax Credit is a program that allows businesses to reduce their taxable income dollar by dollar-based on specific types of fuel costs. The fuel tax credit encourages...
Posted by Dennis Jao on 01/06/2021
