How Does an LLC Owner Get Paid? The limited liability company (LLC) is a peculiar form of business type, and a recent addition to the types of businesses. There are two types of LLC's - a single owner LLC (called a "single-member LLC") and a multiple-owner (multiple-member) LLC. As a member of an LLC, either [...]
So, you owe the IRS. Bummer. Here's how to plan better for next year While all your friends are posting on Facebook about what they plan to do with their tax returns, you're scrambling to figure out how you'e going to drum up the money you owe in taxes. Paying taxes can be a bummer, especially if you are [...]
Here are 5 reasons Trump and Congress are struggling with tax reform A tax reform plan was supposedly imminent when President Trump met with airline executives at the White House on Feb. 9. “We're way ahead of schedule,” Trump said then. “We're going to be announcing something, I would say, over the next two or three [...]
Tax Day isn't likely to be easier next year: Bill Sternberg Republicans don't agree on changes to the tax code any more than they do changes to Obamacare. We got our tax returns back from the accountant the other day. Although our family finances aren’t unusually complicated, our federal and state returns for 2016 were [...]
Most United States citizens see taxes as a fact of life, something that can't be avoided, or controlled. In many cases, according to a new study from Pew Research, they also view them as being unfair, a system rigged against the little guy in favor of big business and wealthy people. "Among the public overall, [...]
Tax season is a great time to make sure your Social Security benefits statement accurately reflects your earnings history. You will have all the documents you need at your fingertips to correct any mistake. The annual statement details how much you earned each year to estimate monthly benefits, which are based on an average of your [...]
The April 18 tax-filing deadline is looming, and many corporate executives, attorneys and other professionals earning high salaries are seeking to save more money and cut their taxes. There is a great strategy that they could be overlooking that may save significant taxes in retirement: setting up a Roth Individual Retirement Account. Roth IRAs are [...]
To paraphrase one of the great musings of the American businessman and investor Charlie Munger, you don’t have to touch an electric fence to learn not to do it. In other words, it’s better to learn through observation and the mistakes of others than through making the mistakes yourself. For this reason, Millennials should take [...]
The April 18 deadline for filing federal income tax returns is less than three weeks away. Taxpayers who think that they will not complete their returns on time may want to consider filing extensions. A quirk of the calendar is giving taxpayers more time to file their returns this year. (The traditional filing day, April [...]
Marriage proposals and weddings are joyous events, but for many couples the thrill of putting a ring on it also means saying “I do” to a higher tax bill. The reason is what the tax industry refers to as “the marriage penalty” — a discrepancy that causes some married couples to pay more combined income [...]
