Top

Tag: tax


Tax Code, Regulations and Guidance

What are the dangers of using the Electronic Federal Tax Payment System (EFTPS)?

September 20, 2018

Via: Investopedia

The Electronic Federal Tax Payment System (EFTPS) is a free tax payment service offered by the U.S. Department of the Treasury to help individual and business taxpayers pay their federal taxes electronically. To use the service, you must first enroll […]


Business Law & Regulations, Finance, Financing your Business

The Legal Lowdown on Small Biz Loans

September 19, 2018

Via: FindLaw

Most small businesses need a little financial help getting off the ground or out of the garage. And while there are many ways to finance a startup, from angel investors to friends and family, most small biz owners are turning […]


Tax Code, Regulations and Guidance

Foxconn Hiring 3,000 Veterans in Exchange for Tax Credit

September 17, 2018

Via: FindLaw

When running a business, keeping costs down and retaining good employees are two of life’s major challenges. But what if you could do both at the same time? Foxconn just announced its plans to launch a military veteran recruiting campaign […]


Tax Code, Regulations and Guidance

Former Trump lawyer Cohen reportedly being investigated for possible tax fraud

August 8, 2018

Via: ABA Journal

The investigation of Michael Cohen, a former lawyer for President Donald Trump, reportedly includes a probe of possible tax fraud. According to the Wall Street Journal, federal authorities are examining whether Cohen underreported income from taxi medallions, which permit drivers […]


Tax Code, Regulations and Guidance

Self Employed Contributions Act Tax – SECA Tax

August 7, 2018

Via: Investopedia

BREAKING DOWN ‘Self Employed Contributions Act Tax – SECA Tax’ The Self-Employment Contributions Act (SECA) of 1954 is a tax law that requires self-employed persons or owners of small businesses to pay both the employer and employee portions of the […]


Business Law & Regulations, Employment & Labor, Tax Code, Regulations and Guidance

Employer Payroll Taxes: The True Costs of Hiring a New Employee

August 6, 2018

Via: Fit Small Business

Employer payroll taxes are calculated by combining 50 percent of Social Security taxes (12.9 percent of employee wages), 50 percent of Medicare taxes (2.9 percent), and 100 percent of federal and state unemployment taxes. While you can make these calculations […]


Tax Code, Regulations and Guidance

How Is Cost Basis Calculated on an Inherited Asset?

July 25, 2018

Via: Investopedia

An inheritance tax is a tax that may be imposed on a person who inherits the estate of a deceased person. The rate at which the inheritance is taxed depends on the value of the inheritance and the relationship of […]


Business Law & Regulations, Finance, Financing your Business

Noncurrent Liabilities

June 27, 2018

Via: Investopedia

What are ‘Noncurrent Liabilities’ Noncurrent liabilities, also called long-term liabilities, are long-term financial obligations listed on a company’s balance sheet that are not due for settlement within one year – as opposed to current liabilities which are short-term debts. BREAKING […]


Tax Code, Regulations and Guidance

Supreme Court: employee stock options ‘non-taxable’ under Railroad Retirement Tax Act

June 21, 2018

Via: Jurist

[JURIST] The US Supreme Court [judicial website] ruled [opinion, PDF] 5-4 on Thursday that employee stock options given to railroad workers were not taxable under the Railroad Retirement Tax Act of 1937 [text] because employee stock options are not money. […]


Tax Code, Regulations and Guidance

Feeling Confused by the New Tax Law’s Small Business Provision? You’re Not Alone.

June 20, 2018

Via: Entrepreneur

I’ve been a small business accountant for 30 years, long enough to see just about all there is to see when it comes to the U.S. tax system. But, never in my three decades have I seen the level of […]