science
Can a working spouse contribute to a traditional IRA?
If the working spouse is covered by an employer-sponsored plan, their ability to deduct any, some, or all of their traditional IRA contributions will depe...
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Science
science
What does venture capital get in return?
With high risk comes high returns. VCs are expected to generate a 25-35% annualized return compared to the 12-15% that public equity markets generate and ...
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science
What kind of taxes do you have to file when you file bankruptcy?
The debtor acting as the bankruptcy trustee is required to file both the individual 1040 individual return and the 1041 bankruptcy estate return. “In both...
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How does paying off student loan interest work?
How is student loan interest calculated? Your required loan payment will be the same each month. However, when you make a payment, interest is paid before...
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How do I respond to IRS CP504B?
The first step in responding to Notice CP504B is to contact the IRS and appease collections to prevent levies. The next step in the process will be obtain...
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What problems do nonprofit organizations face?
Challenges facing non-profit organizations The Challenge of Limited Government Funding for Nonprofit Organizations. Nonprofit’s Stable Income and Accurate...
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How do you account for depreciation on the financial statements?
Depreciation expense is reported on the income statement as any other normal business expense. If the asset is used for production, the expense is listed ...
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Can I call the IRS on behalf of my client?
The Practitioner Priority Service® (PPS) is your first point of contact for account-related issues. Our Practitioner Priority Service® is a professional s...
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science
Is interest paid on a 401k loan tax deductible?
Specifically, you usually can’t deduct interest on 401(k) or 403(b) plan loans if any of the balance comes from elective deferrals. Let’s say your plan lo...
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What are the main points of the Affordable Care Act?
The Patient Protection and Affordable Care Act (ACA) has 3 main objectives: (1) to reform the private insurance market—especially for individuals and smal...
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