If you run your business using a limited liability company (LLC), you will have more flexibility in how the IRS taxes your business profits.IRS Standard DesignationImmediately after...
Posted by James Financial Services Inc on 06/11/2022
College fees are no joke. That's why it's not too early to start planning for them. Estimation shows that it would cost between $250,000 and half a million dollars to pay for...
Posted by Pat Raskob on 05/31/2022
It's pretty easy to get the IRS to give you more time to file your tax return after the tax filing deadline. But there are plenty of other things you'll need to do if you're...
Posted by Tiffany Gaskin on 03/31/2022
The Internal Revenue Service has released new standard mileage rates for driving a car for business, charity, medical, or moving purposes in 2022.New IRS mileage ratesThe new IRS mileage...
Posted by Abundant Wealth Planning LLC on 02/15/2022
The type of business you own determines what your tax returns will be like to a large extent, whether your taxes will significantly be reduced. Let’s start by defining what LLCs...
Posted by KLSM CPA Firm PLLC on 01/01/2022
On filing your taxes, your tax records still need to be with you for nothing less than three years after filing. It is also possible to keep them for two years, going by the date...
Posted by Pat Raskob on 11/21/2021
Very few Americans, less than 35%, are aware of 529 college plans. Of this meager number of people, about 25% use the plans for higher education. Users might link tax-deferred savings...
Posted by Abundant Wealth Planning LLC on 10/24/2021
Why is it important to know the taxpayer's source of income? This is important because the Foreign Tax Credit (FTC) can only offset U.S. taxes on foreign income. An American is...
Posted by Tiffany Gaskin on 08/15/2021
Uncle Sam will not come against you with its host if you file your tax after the tax day. However, you can reduce your penalty by getting it right and avoiding errors, especially when...
Posted by Tiffany Gaskin on 08/06/2021
