How do I pay myself from a single member LLC?
You pay yourself from your single member LLC by making an owner’s draw. Your single-member LLC is a “disregarded entity.” In this case, that means your co...
Category: Updates
How long do second marriages last before divorce?
Sadly, the average length of time for second marriages ending in divorce will typically just under eight years. Do 2nd marriages last? Respect, positive c...
How do I report rental home income?
If you rent the home for 15 days or more, report the rental income on Schedule E. You can deduct expenses, but you must prorate them, and they might be li...
What new companies are starting up?
What are the 100 Best Startup Companies to Work for in 2021? AngelList (2020 List) Forbes (2021 List) LinkedIn (2020 List) 1. AirGarage 1. Hiya 1. Better....
What is Box 17 on a W-2?
Box 17: State Income tax – This amount represents the total of state income taxes withheld from your paycheck for the wages reported in Box 16. Box 18, 19...
Can an inheritance be put in a trust?
The Inheritance Trust is created by you, today, as grantor, naming your child as trustee and beneficiary when you die. So, for example, if your daughter w...
Do tax brackets apply to self-employed?
Generally, 92.35% of your net earnings from self-employment is subject to self-employment tax. Once you’ve determined how much of your net earnings from s...
Do you pay sales tax in Alaska?
The State of Alaska does not levy a sales tax; there are, however, several municipal governments that do. Therefore, if you are a business entity subject ...
Will my bank notify me of a garnishment?
Your bank isn’t required to notify you of an account garnishment unless the withdrawal overdraws your balance. Depending on where you live, you may have c...
What is reference confidence?
A belief and an assurance in one’s own abilities (self-confidence) or the abilities of another. Confidence is situation-specific; for example, a person ma...
