global news
How do I withdraw 529 funds?
How to report a taxable 529 plan distribution on federal income tax returns Divide the AQEE by the total 529 plan distribution (Form 1099-Q, Box 1) Multip...
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culture
Can I mail a check with Form 7004?
Keep in mind that this is not an extension of time to pay your taxes. If you have any taxes due, they must be paid by the original tax filing deadline. Be...
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global news
Can a family member contribute to my Roth IRA?
The IRS is fine with parents and grandparents (and anyone else) giving someone the money to contribute to a Roth IRA. In 2019 the maximum contribution ris...
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education
What is a single member corporation?
A single-member S Corp is a single-member LLC that has chosen to be treated as an S Corporation for tax purposes. A single-member S Corp is a single-membe...
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health
Do you get paid when you put in your two weeks?
Generally, companies will honor the two-week notice and pay the employee for the last two weeks even if the employer does not allow the employee to work d...
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business
How do you fill out a personal financial statement?
SBA Form 413: How to Fill out the Personal Financial Statement Fill in basic business information. Add information about your assets. Add information abou...
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technology insights
Do you have to ask questions to get tax deductions?
Many business owners make spending decisions with the hopes that it will be deducted, and yet neglect to ask the question first! According to the IRS, any...
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local updates
What is a property managers first responsibility to the owner?
What is a property manager’s first responsibility to the owner? To realize the maximum profit on the property that is consistent with the owner’s instruct...
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health
Who is exempted in withholding tax?
Tax exemption for individuals earning less than P250,000 An individual earning less than P250,000 a year is exempted from withholding tax, where the incom...
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education
Do Commissions go on 1099?
Your commission will be reported on a 1099 form. Statutory non-employees and independent contractors are also responsible for the employer and employee po...
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