Can S corps Take section 179?
Using a Section 179 tax deduction with your S Corp allows you to deduct the full purchase amount of business equipment from your personal taxable income. ...
Category: Updates
What happens to employees in a merger?
Mergers and acquisitions tend to result in job losses for employees in redundant areas in the combined company. The target company’s stock price could ris...
Can you run two startups?
They could be running two, three, four, or even more startups at once. The short answer to whether entrepreneurs should be juggling more than one startup ...
How much of my State Pension will my wife inherit?
If you were married to your spouse or civil partner before 6 April 2016 you may be able to inherit up to half of your partner’s Additional State Pension o...
When do you get a lock in letter from the IRS?
If the IRS determines that any employee doesn't have enough withholding, they send a lock-in letter that specifies the maximum number of withholdi...
Why was my SSN rejected on my tax return?
The SSN in question also appears as the filer, spouse, or dependent on another tax return for this same year. Whether the cause of this rejection is the r...
How much is a retaliation lawsuit worth?
According to EEOC data, the average out-of-court settlement for employment discrimination claims is about $40,000. Studies of verdicts have shown that abo...
Do you have to file Form 709 for each year?
List all reportable gifts made during the calendar year on one Form 709. This means you must file a separate return for each calendar year a reportable gi...
Who pays local income tax in PA?
Employers with worksites located in Pennsylvania are required to withhold and remit the local Earned Income Tax (EIT) and Local Services Tax (LST) on beha...
How much does having a child increase your tax return?
For 2020, a new baby also delivers a tax credit of up $2,000, even if the child was born late in the year. Unlike a deduction that reduces the amount of i...
