asked
I am the treasurer for a softball team and we have fundraisers and sponsors who donate to help with our girls' team expenses and uniforms and equipment. We are opening a checking account under the team name but don't want an individual to be liable for any taxes since we do not do this for profit. What do I need to apply for as far as a tax ID? And what do I need to file annually?
December 6th, 2023
I have a question about my savings account #3583312565 with a balance of $23,426.12. I want to know what type of account it is, if it's linked to my checking account, and how much I need to leave in the savings account to avoid monthly charges. I also plan to withdraw a large amount to purchase property in Florida and want to avoid a monthly service charge.
December 30th, 2023
My husband and I have a business that we recently made into an LLC with just he and I as the members. He has been getting paid through a payroll service as an employee. Is this the only way of paying himself? I've heard of owner's draw, etc., that allow you to forego some of the taxes/fees but we don't know enough about that. What's the best way for an LLC owner to be paid and taxed appropriately? Is using the payroll service still the best way? Can he decline paying disability, etc.?
February 2nd, 2023
I pay my ex-wife $6012 a year out of my Navy retirement. DFAS, who pays me my Navy retirement, won't pay her directly because we were married for less than 10 years, so I pay her via an allotment from my Navy retirement pay. This means I am paying all the taxes on that money. What tax form do I need to fill out to report this to the IRS so I can deduct the $6012 and have my ex-wife pay the taxes on the money?
April 11th, 2024
I am looking for a cost-efficient donor database that charges low fees for ACH donations and has the capability to print donor statements at year-end.
April 26th, 2024
I just took my business out of the LLC. How do I get a new EIN number for the change of bank account?
December 16th, 2024