health
What is resident and non-resident in income tax?
The current tax law states that an Indian citizen who stays abroad for employment or is carrying on business for an uncertain duration is a non-resident. ...
Read Journal 
local updates
What do you need to know about 1099-R form?
1099-R Form Form. A form 1099-R is used to report distributions made for both IRA and 401k accounts. It is also used for pensions, annuities, and profit-s...
Read Journal
education
Who is exempt from sales tax in Pennsylvania?
Major items exempt from the tax include food (not ready-to-eat); candy and gum; most clothing; textbooks; computer services; pharmaceutical drugs; sales f...
Read Journal
education
Can you deduct bad debt on cash basis?
Generally, to deduct a bad debt, you must have previously included the amount in your income or loaned out your cash. If you’re a cash method taxpayer (mo...
Read Journal
environment
What happens if an LLC does not make money?
LLCs that have become inactive or have no income may still be mandated to file a federal income tax return. Filing requirements will depend on how the LLC...
Read Journal
business
What are the taxes in Florida for payroll?
Payroll taxes include Medicare tax, with a tax rate of 1.45% on all earnings and Social Security tax, with a rate of 6.2% on the first $142,800. as of 202...
Read Journal
education
How do you calculate lifetime value of customer LTV?
In the simplest form, LTV equals Lifetime Customer Revenue minus Lifetime Customer Costs. Using a simple example, if a customer purchases $1,000 worth of ...
Read Journal
education
Are there any errors on state tax returns?
Furthermore, the former preparer did not include an addition modification for bonus depreciation on the client’s state income tax return. Both errors resu...
Read Journal
education
Should I claim tax-free threshold when changing jobs?
If you’re changing jobs during the year, you’re still entitled to claim the tax-free threshold on your new job. If you have more than one job at a time, i...
Read Journal
education
What rental car company just went out of business?
Hertz Hertz, an early victim of the pandemic, officially emerged from bankruptcy on Wednesday. Its return coincides with and was made possible in part by ...
Read Journal