asked
How do I report and pay accelerated FICA taxes on a Supplemental Executive Retirement Plan when we are not making a distribution yet, only wanting to pre-pay the FICA taxes, and need to know how to handle this tax payment through our payroll system or how to report with our tax payment since we will simply be increasing the social security and Medicare wages for the tax payment but not the gross wages?
January 4th, 2023
I live in Maryland and my daughter has attended a Montessori school since she was five years old. I was told that we may qualify for a tax deduction or credit (not certain if it is federal or state or both?) until she is age seven. I'm having trouble finding the segment of the tax code that would refer to this deduction/credit?
January 23rd, 2023
As an independent Avon representative living in Connecticut, what deductions can I claim for my business, what tax forms should I use, and do I have to pay quarterly taxes?
October 10th, 2024
I have a friend's son in Australia who inherited $50,000 in stocks ten years ago. Now he wishes to sell. Assuming he has a gain, what are the tax implications and what would be his basis on the stock?
August 20th, 2023
What is the process for setting up a non-profit organization in Ohio, and what are the key steps and forms required?
April 11th, 2024
I am 56 years old and retired, supplementing my pension with capital gains and dividends. I plan to transfer money from my IRA to a ROTH IRA until I am 59.5 years old. How much should I withdraw, considering tax brackets (up to 25%, 28%, or 33%)? What are the expected tax rates in 2009, 2010, and beyond? Should I withdraw money now and pay taxes, anticipating future tax rate increases?
May 21st, 2023