Adjusting Your Tax Withholding
Now that you’ve seen last year’s tax results and can see where this year is heading, it may be a good time to consider adjustments to your income tax withholding.
Now that you’ve seen last year’s tax results and can see where this year is heading, it may be a good time to consider adjustments to your income tax withholding.
An S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits flow through to its shareholders’ individual tax returns and are not subject to self-employment taxes. As a result, many S corporations ignore the requirement that each shareholder-employee must take reasonable compensation in the form of W-2 wages in exchange for services performed for the corporation.
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
It’s important to categorize transactions, but it takes time. If every day brings several dozen into QuickBooks Online, you can automate this process.
The COVID-19 pandemic in 2020 led to a surge in demand for vacation/second homes. If you are thinking about buying a vacation home, we cover 3 things to consider before taking the plunge.
The U.S. Department of Education announced a record sixth extension for federal student loan repayment, interest, and collections, through August 31, 2022. We explain what this means for you.
There are a few major reasons why someone might prefer a salaried position over an hourly one. No, they aren’t going to receive overtime pay like their hourly employees, but they do have access to certain benefits that their counterparts don’t.
Balancing work and family is a personal endeavor—there is no magic formula. You’ll need to make choices along the way that align with what’s important to you.
The benefits of turning your home into a rental include cash income, tax write-offs, and most of all, long- term appreciation of the property. Before you place the “For Rent” sign, consider the tax consequences.
Russia and Ukraine account for only about 2% of global gross domestic product, but high energy prices and supply shocks caused by the war could have a far-reaching impact on a global economy that has not fully recovered from the pandemic.