by Jarel Daniels | Nov 8, 2021 | Tax & Accounting
[wptb id=1259] Business Entity Comparison Chart [wptb id=1262] This brochure contains general information for taxpayers and should not be relied upon as the only source of authority. Taxpayers should seek professional tax advice for more information. Copyright © 2021...
by Jarel Daniels | Oct 25, 2021 | Tax & Accounting
Bookkeeping for Tax Purposes You should keep information that you and the IRS need to determine your correct tax. Everyone should keep the following records: Copies of tax returns Keep copies of your tax returns as part of your tax records. Your tax returns can help...
by Jarel Daniels | Oct 11, 2021 | Tax & Accounting
What Should You Do If You Can’t Pay Your Taxes? Don’t panic! Here are some ideas for getting your tax bill paid and minimizing interest and penalties: 1. File your tax return on time. Individual income taxes are due and payable in full on April 15. If you expect to...
by Jarel Daniels | Aug 23, 2021 | Tax & Accounting
Custodial Accounts (UTMA/UGMA) Assets in a custodial account belong to the minor. Any income earned in a custodial account is taxed to the minor. A custodian, usually an adult relative, controls the assets until the minor reaches the age set by state law (21 in most...
by Jarel Daniels | Aug 16, 2021 | Tax & Accounting
What You Need To Know About S Corporations S corporations are corporations that elect to pass income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on...
