Tax time may be stressful, and at times, life is so rushed that you just cannot manage to get your filing done by April 15. That is precisely the reason why the IRS provides tax extensions that provide you with additional time to find the necessary documents, systematize and file them correctly. Nevertheless, a lot […]
Deadline for filing income tax returns that have received extensions Read More »
The key is that choosing to become a sole proprietor or establish an LLC should not cause you headaches. It is rather easy when someone decodes it in simple language. In the case of sole proprietor vs LLC, you can imagine it is like the difference between riding a bike and driving a car. They
Sole Proprietor vs LLC: Tax Implications you should know Read More »
The excitement of starting a business has wild ride quality and a maze of paperwork and regulations that make up taxes. If you just formed a Limited Liability Company (LLC) with the intent to file your taxes for the first time, it’s natural to wonder what will be ahead. The good news? It is very
Filling Business Taxes for LLC for the First Time Read More »
Backup withholding is a kind of tax withholding relating to particular types of payments, such as interest, dividends, and income paid to independent contractors. The IRS implements this tax in cases where a payee fails to supply a correct TIN or in situations where there are some violations with the TINI. When a taxpayer is put
What is Backup Withholding Tax? Read More »