Any withdrawal from your account that you take after you reach age 59 ½ is called a Normal Distribution. A Normal Distribution is not the same as a Requir...

The big benefit of S-corp taxation is that S-corporation shareholders do not have to pay self-employment tax on their share of the business’s profits. The...

On Form 1099-MISC the income earned will be recorded but there will not be any deductions for federal, state, or local income taxes, or social security, e...

04.17. 2019. Supplemental Health Insurance plans typically pay a set benefit directly to an individual for services covered by the plan. How much is Medic...

If you are married, you CANNOT file your tax return using the “Single” filing status. As Mr. Zellinger has aptly stated, a married person generally must f...

As a result, donated services are not tax-deductible at all for businesses or individuals. Other types of donations, such as products, inventory, and cash...

There are generally two ways to get money into an S-Corp – through a capital contribution (equity) or loans (liabilities). If a shareholder contributes $1...

Here are some answers to common tax questions confronting independent contractors. This information will help demystify the tax system, and give you a leg...

The idea of Self Assessment is that you are responsible for completing a tax return each year if you need to, and for paying any tax due for that tax year...

There are no laws in any American state that legally requires restaurants to provide employees with food for these breaks. Employees are expected to provi...