LLC members have to pay full payroll tax 15.3% when taking profit from the LLC, but small corporation, Inc, the shareholders do not have to pay payroll tax when taking profit from the corporation, is this correct? I am trying to choose between an LLC and an Inc, and need some suggestions.
April 17th, 2024
When an S-Corp withholds taxes from employees, where does that money have to be paid to, and what happens to the difference if the employee's refund is less than the amount withheld?
January 13th, 2023
I missed my required minimum distribution (RMD) by December 31, 2021, and paid it on March 14, 2022. How do I file this on my 2021 income taxes?
July 9th, 2024
My husband died on May 2, 2022, and I need to file for an extension due to my current hospitalization. I have never filed taxes on my own and am completely overwhelmed. How can I file for an extension, and is there any assistance available for someone who is not proficient with computers?
May 26th, 2024
If I already have a payment plan with the IRS, can I add another year's tax amount to it and pay more money each month? I am 68 years old, have one dependent, file as head of household, and made roughly $45,000 last year. I already did my taxes but didn't send any money due to illness. I am currently paying on a payment plan that is roughly 11 years old, and I was told there is a statute of limitations on paying past 10 years. Is this true?
August 3rd, 2023
As a pet sitter with Rover, what mileage can I deduct for tax purposes, and are there any other expenses I can claim?
April 29th, 2023