I've decided to donate to an orphanage through my Scorp. Since the orphanage isn't a 501c3, it likely won't be tax-deductible. How should I categorize this donation on my Scorp PnL? Should it be seen as an owner's draw for taxes next year, and can I still put it as an expense under the category 'Cash Donations' or should it be on the B/S as an Owner's Expense?

November 9th, 2024

Can you explain HSA, HRA, and FSA? How do they work and what are their benefits?

February 28th, 2024

I have not received my 1099 or W2 form by mail. This is the first time this has happened. How should I get in touch with the relevant authorities to obtain these forms, and what information is safe to provide?

May 7th, 2024

I have lost my W-2 and Social Security form. How can I obtain replacements for these documents?

October 22nd, 2024

I had Ohio Grandville local taxes withheld from my 2023 wages in error due to a change in my address and municipality. Can I file for a credit on my tax return?

July 12th, 2023