annual general meeting An annual general meeting (AGM) is a yearly gathering of a company’s interested shareholders. At an AGM, the directors of the compa...

You figure the amount you’re allowed to deduct on Schedule A (Form 1040). Medical care expenses include payments for the diagnosis, cure, mitigation, trea...

The penalty is adjusted each year for inflation. For example, if a partnership has four partners and files a return three months late, the penalty for lat...

Limitations to profit sharing plans Employers can only deduct contributions to retirement plans of up to 25% of total employee compensation. Total contrib...

A void contract, also known as a void agreement, is not actually a contract. A void contract cannot be enforced by law. Void contracts are different from ...

Safety. E-filing is more secure than paper filing, according to the IRS, because the return, with all your sensitive information, is transmitted directly ...

A manager-managed LLC makes it possible to appoint one or several managers to handle the affairs of the company, leaving other members free to maintain a ...

If you received a check for the School Tax Relief (STAR) credit, you do not need to do anything on your New York State income tax return unless you itemiz...

To calculate taxable income, you begin by making certain adjustments from gross income to arrive at adjusted gross income (AGI). Once you have calculated ...

Startup costs are the expenses incurred during the process of creating a new business. Pre-opening startup costs include a business plan, research expense...