…to donate to these after-tax dollars to charity. This taxpayer would report the full IRA distribution as taxable income and then deduct the donation to charity as an itemized deduction…
…partnership, or an estate (even if it’s the parent’s estate), then payments for your child’s services are subject to income tax withholding, Social Security taxes, Medicare taxes, and FUTA taxes…
…taxpayer materially participated in the rental activity so the passive activity rules did not apply. Without proper planning, a taxpayer could potentially be subject to the passive activity rules, net-investment…
…Additional Tax Resources Tax Extenders Deal Renewing Expired Tax Breaks Through 2020 Approved IRS Leans on Technology for Discovering Non-Compliance Not-for-Profit Board Review of Form 990 2019/2020 Tax Planning Guide…
…941, Employer’s QUARTERLY Federal Tax Return (or Form 944, Employer’s ANNUAL Federal Tax Return) Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return Form VA-6, Employer’s Annual or Final Summary…
…a member of the State and Local Tax team or Email | 804.747.0000 Source: VSCPA Disclosures Magazine Additional Sales and Use Tax Resources: Terry Barrett Talks Online Sales Tax Decision…
…tax withholding and tax filing requirement in that other state? Remote Work State Withholding Requirements Pre and Post COVID-19 As the states have extended 2019 tax filing due dates, addressed…
2025 tax filing guidance As the new tax season approaches, businesses must stay informed about the tax credits available to them. Tax credits directly reduce your tax liability, potentially leading…
As you focus on building your career, we will identify planning opportunities that align with you and your family’s long term and retirement goals. When you are ready to exit…
…taxes, and distributes profits to shareholders. C Corporations are subject to both corporate-level taxation and tax on dividends to shareholders. While recent tax reforms have made this classification more attractive…
…company to put aside funds (pre-tax) that could be taken out (tax-free) to pay for the out-of-pocket health care costs until the deductible was met. Using a HDHP would likely…
…business plans to take advantage of the recent 2017 Tax Cuts and Jobs Act. It appears that the tax act could be a boon for the US economy overall as…