Social Security typically allows up to 45 hours of work per month if you’re self-employed and on SSDI. That comes out to around 10 hours per week. The SSA...

As a reminder, owners reaching age 70½ in 2020 are not required to take any distributions thanks to the SECURE Act. For them, the trigger age for such pay...

If you are an Independent Contractor that issued a 1099-MISC in error and need to void or file a corrected 1099-MISC the IRS states, “The IRS operates a c...

To capitalize an asset is to put it on your balance sheet instead of “expensing” it. So if you spend $1,000 on a piece of equipment, rather than report a ...

A rabbi trust is considered a grantor trust for income tax purposes, resulting in trust income taxed to the employer. Contributions to the trust are not t...

Gifts that are exempt from tax 1) Gifts up to Rs 50,000 in a financial year are exempt from tax. However if you receive gifts higher than this amount, the...

The size, profitability, and nature of the business will also affect how much that business owes in unemployment insurance or unemployment tax. In some na...

How is the Escrow Amount Calculated? The formula for calculating escrow is fairly simple. The total tax and insurance bills for the following year are cal...

You can deduct vision insurance premiums, eye exams and eye surgeries from your taxes if you paid for those expenses out of pocket. But, any costs covered...

Don’t worry – we can help you understand your options. Maybe you found a tax form behind your desk or maybe you receive an adjustment to a 1099 form from ...