education
What are Distributions to owners of a corporation called?
Distributions paid to shareholders reduce stockholder’s equity and its component, retained earnings. Distributions of cash, or cash dividends, are typical...
Read Journal Category
Education
education
Is South Dakota a good state to start a business?
† Index of state’s average revenue/kilowatt hour. How’s this for being business friendly: South Dakota doesn’t tax personal income, capital gains, corpora...
Read Journal
education
What happens if you do not file income tax return?
Thus, in case the taxpayer is claiming a refund, delayed filing of income tax return will result into a delayed receipt of the tax refund. It is thus advi...
Read Journal
education
Can a LLC be classified as a partnership?
Thus, an LLC with multiple owners can either accept its default classification as a partnership, or file Form 8832 to elect to be classified as an associa...
Read Journal
education
Do you get a 1099-R every year?
Like most 1099s, 1099-R forms must be sent to recipients by Jan. 31 of the year following the tax year. If you receive a 1099-R, keep in mind that not all...
Read Journal
education
What is the purpose of form 4797?
Form 4797 is a tax form distributed by the Internal Revenue Service (IRS). Form 4797 is used to report gains made from the sale or exchange of business pr...
Read Journal
education
Can a W2 employee pay their own taxes?
By law, employees are guaranteed at least minimum wage (set by both federal and state laws) for the time they’ve worked on a regular and ongoing basis. Co...
Read Journal
education
What are the 8 steps to form an LLC in New York?
How to Form an LLC in NY in 8 Steps Choose a name for your LLC. Find a NY registered agent. File articles of organization with NY state. Obtain NY busines...
Read Journal
education
What happens if someone doesn t pay divorce settlement?
A judge can order your wages garnished if you fail to make payments required by the divorce order. Money will be taken from your pay check to put towards ...
Read Journal
education
Can my Canadian husband sponsor me?
You can sponsor your spouse, partner or child to live in Canada if you’re a: Canadian citizen. person registered in Canada as an Indian under the Canadian...
Read Journal