technology insights
How is an S corporation formed?
A corporation becomes an S corporation by filing an S corporation election with the IRS. The election is made on IRS Form 2553, Election by a Small Busine...
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education
Why are companies incorporated in DE?
There are two major reasons for Delaware’s dominance of the corporate incorporation business. The other major reason corporations choose to incorporate in...
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health
How is revenue distributed?
Revenue sharing is the distribution of revenue, the total amount of income generated by the sale of goods and services among the stakeholders or contribut...
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culture
Who died in February 2019?
Jan-Michael Vincent, 73, American actor (Airwolf, The Mechanic, Big Wednesday), heart attack. Michael Wilson, 81, Canadian politician and diplomat, Ambass...
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global news
When did Anne take inheritance from her grandmother?
Anne took an inheritance of €30,000 from her grandmother in 2005. In 2008 she took a gift of €40,000 from her aunt. Both of these benefits fall within Gro...
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education
How does S-corp loss affect personal taxes?
Assuming you actively participate in the operation of your S corporation and you’re not merely a passive investor, if your S corporation suffers a loss in...
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education
Do tax credits reduce tax liability?
Tax credits directly reduce the amount of tax you owe, giving you a dollar-for-dollar reduction of your tax liability. A tax credit valued at $1,000, for ...
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science
How do you divorce an estranged spouse?
If you do not know where your estranged spouse is, you can still file your petition for divorce after making an effort to locate him or her. You will need...
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science
Is the account number on a check the second number?
At the bottom of a check, you will see three groups of numbers. The first group is your routing number, the second is your account number and the third is...
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arts
When do you have to pay back state taxes?
Hopefully, you have the money available to pay the balance due immediately when you file, but if not, there are always installment payment options that al...
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