General Information on forming Partnerships including Tax and Payroll Compliances

General Information on forming Partnerships including Tax and Payroll Compliances Partnership is relatively common business entity structure when you have at least 2 members in your business. There are few other popular variations to the partnership structure -General Partnership, Limited Partnership (LP) and Limited Liability Partnership (LLP). Few important points relating to General PartnershipRead more about General Information on forming Partnerships including Tax and Payroll Compliances[…]

19 Jun

TaxPro Posted in Tax No comments

How to get a transcript or copy of a prior year tax return?

How to get a transcript or copy of a prior year tax return? As per IRS guidelines, taxpayers are required to keep copies of tax returns for at least three years. If you are unable to locate copy of your tax return you can either Request a copy from your Tax Preparer OR Request aRead more about How to get a transcript or copy of a prior year tax return?[…]

09 Jun

TaxPro Posted in Tax One comment

S Corporation Tax and Compliances checklist

S Corporation Payroll and Tax Compliances list S Corporation: This is a business entity structure that makes a separate tax election under Sub Chapter S with the Internal Revenue Service. Important points relating to S Corporations S Corporations or LLC with S tax election required to file form 2553. S corporation election must be made within theRead more about S Corporation Tax and Compliances checklist[…]

09 Jun

TaxPro Posted in Tax No comments

Can you deduct moving expenses incurred in 2018?

Can you deduct moving expenses incurred in 2018? Under the prior year 2017 & earlier tax law, you would be eligible to qualify if : Your employer has not reimbursed the moving costs. They have also excluded the reimbursement from your income. Your new place of work is at least 50 miles away fromRead more about Can you deduct moving expenses incurred in 2018?[…]

03 Jun

TaxPro Posted in Payroll One comment

C Corporation Payroll and Tax Compliances list

C Corporation Payroll and Tax compliances list C Corporation : This is a business entity structure that is taxed separately from its owners/shareholders. They are also subject to separate corporate income tax . A C Corporation is owned by its shareholders. There is double taxation of profits under this type of entity structure. Corporation isRead more about C Corporation Payroll and Tax Compliances list[…]

03 Jun

TaxPro Posted in Tax No comments

Standard Mileage rates for 2018

Standard Mileage rates for 2018 The Internal Revenue Service has released the 2018 Mileage rates. Beginning January 1, 2018 the following are the IRS approved rates : Business Miles : 54.5 cents would be the business miles that would be permitted to be deducted on the tax return. This is 1 cent higher thanRead more about Standard Mileage rates for 2018[…]