How are severance packages usually calculated?
A typical formula for severance pay may be: one week of the employee’s regular rate of pay, multiplied by the number of years worked. Of course, some empl...
Category: Updates
What is the difference between an LLC and a corporation in Texas?
A corporation must have directors and officers (i.e. a president and a secretary), while an LLC does not. The owners of a corporation elect directors (som...
How much will I pay in taxes if I make 150000?
If you make $150,000 a year living in the region of California, USA, you will be taxed $51,293. That means that your net pay will be $98,707 per year, or ...
Is there a way to buy multiple rental properties?
Something along the lines of the ultimate property finder tool- Mashvisor’s Property Finder Tool. Take a look: With a powerful Property Finder Tool, you c...
Do you need to fill out 1040-ES?
To figure out if you should file 1040-ES for the current year make the following calculation: If you expect to owe at least $1,000 in taxes, after all ded...
Should I be a 1099 or W-2 employee?
1099 contractors have a lot more freedom than their W2 peers, and thanks to a 2017 corporate tax bill, they are allowed significant additional tax deducti...
Is working in Puerto Rico tax free?
Puerto Rico holds a unique position as an unincorporated U.S. territory. Under Internal Revenue Code (IRC) §933, Puerto Rico source income is excluded fro...
Does first time abatement apply to form 5500?
FTA does not apply to these returns: Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return. Form 5500 Series, Annual Return/Report of Employ...
Is PA Access Card Medicaid?
Everyone in Pennsylvania who receives either Medicaid or welfare (or both) will receive an “access” card with different colors based on which programs you...
Should I hire a lawyer to form an LLC?
You do not need an attorney to form an LLC. Most states allow LLC formation by registering the business entity on your secretary of state’s website and wi...
