Opinion

What is a prohibited transaction under ERISA?

Prohibited transactions are conflicts of interest that violate ERISA. Plan sponsors and fiduciaries are required to identify and evaluate. conflicts of in...

Read Journal

opinion

What income does not need to be reported?

It is commonly believed that you do not have to report your earnings unless they meet or exceed $600. However, this is a common misconception. The $600 th...

Read Journal

opinion

Can you use the same TurboTax every year?

Yes… whether Desktop software, or Online Software, you have to purchase it every year. Exception: The Online “Free” version will let you file for Free …fo...

Read Journal

opinion

What is the penalty for late filing of Form 990-N E-postcard?

While there is no penalty for late filing an e-Postcard, your tax-exempt status will be automatically revoked if you don’t file for three consecutive year...

Read Journal

opinion

What is the purpose of a tax invoice?

If you make a taxable sale, your GST-registered customers need a tax invoice from you to claim their GST credits for purchases of more than $82.50 (includ...

Read Journal

opinion

What is the small business tax rate for 2020?

The company tax rate for base rate entities will now reduce from 27.5% to 26% in 2020–2021, and then to 25% for 2021–2022 and later income years. This mea...

Read Journal

opinion

How do I sign my UCC 1 308?

Read Journal

opinion

How do I know if I should incorporate my business?

Basically, if your business is earning more than you need to match your lifestyle, you’ll be able to take advantage of tax deferral. For some people, if y...

Read Journal

opinion

Can you deduct losses in Roth IRA?

The Internal Revenue Service does not permit you to deduct losses from your Roth IRA on a year-to-year basis, so the only way to deduct your losses is to ...

Read Journal

opinion

Can S corps be holding companies?

Holding Companies The owners of an LLC, called members, can be either individuals or legal entities, such as S-corporations, C-corporations, trusts, and e...

Read Journal

← Back Issue 77 Next →