Can you write off service fees?
Merchant service fees are a tax-deductible cost of running your business. The Internal Revenue Service recognizes merchant service fees as an essential op...
Category: General
Can an independent contractor be disciplined?
Ending an employee’s employment is also far harder than terminating an independent contractor. The LRA ensures that certain procedures, including discipli...
How do I invest in a lump sum settlement?
How to Invest a Lump Sum of Money You’ve Inherited Money. You Sell Your Business. You Get a Bonus at Work. You Get a Pension. You Get a Legal or Insurance...
What happens when current ratio increases?
The higher the current ratio, the more liquid a company is. A higher current ratio indicates that a company is able to meet its short-term obligations. In...
Are irrevocable trusts State specific?
If a trust is irrevocable, whether it can be moved depends, in part, on the language of the trust document. Many trusts specify that the laws of a particu...
Can a parent live in a second home?
If you are thinking about buying a second home or refinancing an investment property you may already own—especially if you have a parent or children alrea...
When is the due date for a partnership tax return?
Due Dates for Returns and Extension Applications. The due date for partnership and multiple-member LLC tax returns has changed, effective with 2016 tax re...
How do I remove excess contributions from my IRA?
How Do I Withdraw Excess IRA Contributions? If you’ve contributed too much to your IRA for a given year, you’ll need to contact your bank or investment co...
What does final return mean on 1065?
Return of partnership income Return of partnership income It reports capital gains and losses on Schedule D (Form 1065). For the tax year in which the par...
What are draws in accounting?
The withdrawal of business cash or other assets by the owner for the personal use of the owner. Withdrawals of cash by the owner are recorded with a debit...
