The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever
What do you plan to do with your tax refund this year? Here are three suggestions that could net you long-term benefits: Reduce Your Debt: If you have credit card bills or other consumer debt hanging over your head, consider putting your tax refund to work by using it to pay down those debts. Not only will this reduce your current monthly bills and free up some cash, getting out of debt and staying out of debt can put you in a better position when the time comes to retire. Pay Down Your … [Read more...] about Three Smart Uses for Your Tax Refund
A Limited Liability Company (LLC) is treated by the IRS as pass-through entity. Unlike a corporation, which must file its own, separate income tax return, the owners of an LLC (“members”) report the company’s profits or losses on their personal income tax returns. Here are the default rules: Single-Member LLC: An LLC that has only one member is treated by the IRS as if it were a sole proprietorship. So, there’s no separate LLC tax return, and the LLC as a business entity does not have to pay … [Read more...] about How is an LLC Taxed?