arts
Is every corporation an LLC?
There’s no such thing as a “limited liability corporation.” An LLC is a limited liability company. It’s not a corporation, and you don’t incorporate a bus...
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science
How much should a living trust cost to prepare?
The average cost for an attorney to create your trust ranges from $1,000 to $1,500 for an individual and $1,200 to $1,500 for a couple. Legal fees vary by...
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business
How much does a business pay in payroll taxes?
Social Security and Medicare taxes are imposed on both the employee at a flat rate of 6.2% for social security and 1.45% for Medicare and the employer ‘s ...
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local updates
Can you have a Keogh and a 401k?
Investing in a Keogh As with a 401(k), you can defer taxes on the money you invest in a Keogh until retirement. You can begin taking distributions at age ...
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global news
How does depreciation affect corporation tax?
By charting the decrease in the value of an asset or assets, depreciation reduces the amount of taxes a company or business pays via tax deductions. A com...
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education
What are the best practices for reporting?
We’re sharing these 7 reporting best practices: Be Strategist With Your Reporting. Be Consistent In Your Reports. Simplify The Data Being Collected. Coord...
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global news
Can a POA open a bank account?
When opening a bank account using a power of attorney, you will have to fill out forms with both your information as well as the information of the accoun...
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arts
What type of account is a 408 A?
retirement savings plan A 408(k) account, commonly referred to as a Simplified Employee Pension (SEP) plan, is an employer-sponsored, retirement savings p...
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local updates
Why did I get a letter from Eftps?
The EFTPS (Electronic Federal Tax Payment System®) is the IRS’s online system for paying estimated taxes. The notice you received is a standard letter rec...
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business
What is the Maine income tax rate for 2020?
Maine has three marginal tax brackets, ranging from 5.8% (the lowest Maine tax bracket) to 7.15% (the highest Maine tax bracket)….Tax Year 2019 Maine Inco...
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