general
How much can an LLC contribute to a SEP IRA?
You are able to fund up to 20% of your company earnings. So if your company makes $200,000, you can defer $40,000 into the plan. Does a SEP need to file F...
Category: General
general
Does Washington recognize S corporations?
Washington does not recognize the federal S corporation election and does not require a state-level S corporation election. You can still have an S corpor...
general
Do Sole proprietors need an EIN number?
The IRS uses the EIN to identify the taxpayer. EINs must be used by business entities–corporations, partnerships, and limited liability companies. However...
general
Do OTC vitamins really work?
The researchers concluded that multivitamins don’t reduce the risk for heart disease, cancer, cognitive decline (such as memory loss and slowed-down think...
general
How do I know if I am withholding enough?
To figure out if you are withholding enough federal taxes, follow these steps to estimate your tax liability for 2019: Review last year’s tax return. Esti...
general
Can a US citizen have dual citizenship in Belize?
Belize permits dual citizenship. The Belize Constitution provides that a “citizen of Belize by birth or descent who acquires the citizenship of any other ...
general
What is a G4 status?
G-4 – Individuals coming to the United States to take up an appointment at a designated international organization, including the United Nations, and thei...
general
Is kiddie tax unearned income?
The “kiddie tax” is tax on a child’s unearned income. The child’s investment and other unearned income over $2,200 is subject to the kiddie tax rules and ...
general
What do Department of Defense contractors do?
A defense contractor (or security contractor) is a business organization or individual that provides products or services to a military or intelligence de...
general
Which products have an excise tax included in their price?
General fund excise taxes are imposed on many goods and services, the most prominent of which are alcohol, tobacco, and health insurance. Other general fu...
general
How is income from a trust reported?
An estate or trust can generate income that must be reported on Form 1041, United States Income Tax Return for Estates and Trusts. At the end of the year,...
general
What is a 10 year lien?
The starting point to understanding your tax lien is to know that it lasts for the amount of time the IRS has to collect from you – 10 years. After the 10...
general
How do I transfer 401k to new 401k?
If you decide to roll over an old account, contact the 401(k) administrator at your new company for a new account address, such as “ABC 401(k) Plan FBO (f...
