How Are C Corps Taxed? Here’s Everything You Need To Know!
When it comes to taxation C corps, the first thing that you need to know is that they are subject to double taxation - while the profits earned by C corps are taxed at the corporate level, the profits distributed as dividends are taxed at the individual level. This is one of the major differences between C corps and other business entities such as S corps, [...]
The IRS bewares the offshore account holders!
Hear, Hear, Offshore Account Holders! The IRS Is Coming For You!
If you hold an offshore account, you must be aware of the strict watch that the IRS keeps on you. And [...]
IRS Changes Backup Withholding Tax Rate to 24%
Good News For Small Businesses! The IRS Has Announced A Reduction In The Backup Withholding Rate To 24%!
Yes, you heard that right! In keeping with the federal tax [...]
How to know if your charitable contributions are going to the right place?
Do You Know Where Is Your Donation Going? Here’s What You Can Do About It!
Donating to charities for a good cause feels great, right? But are you sure that all your [...]
Call from IRS: How often do they call?
Have You Been Receiving A Lot Of Calls From The IRS Lately? Chances Are That You Are Being Scammed!
While it’s a usual occurrence for the IRS to call taxpayers during [...]
Insurance and Your Taxes — What Business Owners Need to Know
Business Owners, Did You Know That Insurance Premiums Are Tax Deductible?
If you didn’t know it already, let’s break the good news - insurance premiums are [...]
Avoid Charitable Scams After Natural Disasters
If Donating To Disaster Relief Funds And Charities Is Your Thing, You Better Be Aware Of Charitable Scams After Disasters!
For an empathetic human being, natural [...]
Here’s All You Need To Know About Form 1099-MISC and Form 1099-K!
Self-employment is awesome. Being your own boss, setting your own work pace and time, and best of all, claiming business expense deductions!
But what about [...]
How New Tax Provisions Are Affecting Individuals
The Tax Cuts and Jobs Act Not Only Impacts Business But Also Individual Taxpayers. Here’s A List Of The Tax Provisions That Affect Individual Taxpayers.
As [...]
Here’s All You Need To Know About Capital Gains And Capital Losses!
We’re guessing most of you have heard the terms Capital Gain, Capital Loss, and Capital Gains Tax. But do you know what these terms mean? Probably not. [...]
Are You A Homeowner? Make Sure You Claim These 5 Money-Saving Tax Deductions!
Being a homeowner comes with a lot of responsibilities, both personally and financially. You have to take care of numerous little things such as mortgage [...]