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What are the IRS rules regarding charitable giving?
Individuals may deduct qualified contributions of up to 100 percent of their adjusted gross income. A corporation may deduct qualified contributions of up...
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Who is subject to New York City tax?
People, trusts, and estates must pay the New York City Personal Income Tax if they earn income in the City. The tax is collected by the New York State Dep...
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What does annual contribution amount mean?
Annual Contribution means the amount credited to the Account Balance for the Plan Year. Annual Contribution means the amount credited to the Account Balan...
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What does typical long-term care insurance cover?
Long-term care insurance can cover home care, assisted living, adult daycare, respite care, hospice care, nursing home, Alzheimer’s facilities, and home m...
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When does the new tax law go into effect?
Most provisions of the new law affecting individuals and businesses go into effect on Jan. 1, 2018. For instance, new tax brackets take effect on January ...
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What is a business with invested equity?
Equity financing occurs when a business gives up a percentage of its ownership to an investor (or investors) in exchange for capital. In equity financing,...
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How do I change my sole proprietorship to a corporation?
Transferring your business assets from a sole proprietorship to a corporation has tax and legal consequences. As a rule, you must make these transfers at ...
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How do I qualify for a solo 401k?
To qualify for the Solo 401k plan, you must be self-employed and generate some form of self-employment income and provide proof. If you are the owner of a...
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Does disability count towards AGI?
Sources of income that comprise your AGI include your wages, interest income, dividends and self-employment income. Your disability income is not part of ...
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Are 401k contributions protected?
Your money can continue to grow tax-deferred. Under federal law, assets in a 401(k) are typically protected from claims by creditors. You may have access ...
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