Which taxes are imposed on both the employer and employee?
The two main federal payroll taxes levied on wages are known as Federal Insurance Contributions Act (FICA) taxes. Employees and employers both pay FICA ta...
Category: Updates
Do senior citizens have to pay advance tax?
Salaried, freelancers and businesses– If your total tax liability is Rs 10,000 or more in a financial year you have to pay advance tax. Advance tax applie...
What do you need to know about IRS payment plans?
A payment plan is an agreement with the IRS to pay the taxes you owe within an extended timeframe. You should request a payment plan if you believe you w...
What to do if your tax return is delayed?
If your tax return is being delayed for another reason, then it may be a good idea to contact the IRS. It is possible there was an error in your tax retur...
Can A S Corp be the owner of a LLC?
An S corp can own an LLC. Limited liability companies (LLCs) have owners (members) that can be individuals or other business entities. How are LLCs taxed ...
Are IRA deductions allowed in 2018?
Contributions to an IRA may be eligible for a tax deduction, up to the annual contribution limit, which is $5,500 for the 2018 tax year or $6,500 if you’r...
Is stimulus a portal check?
The online IRS portal for entering payment information and checking on the status of stimulus checks went live on April 15, 2020. The application is calle...
Is it cheaper to build or buy a mobile home?
Manufactured homes are much less expensive to build than site-built homes. A review of the manufacturing planning and building processes will explain why ...
Will Social Security Disability take my inheritance?
Social Security Disability, like Social Security, is not a means tested program. Therefore, your Social Security Disability benefits will not be affected ...
What are Section 199A dividends on 1099-div?
Certain taxpayers are entitled to a deduction under section 199A computed by reference to several types of income, including qualified REIT dividends. A q...
