Videos »
Settlements and Judgments
Top Takeaways 1: Taxation of Settlements and Judgments Depends on Award Type The US taxes all income, from whatever source, unless specifically excluded. However, certain awards received on account of personal physical injuries or
Read More »
Business Entertainment, Travel and Gift Expense Deductions
Top Takeaways 1. Can deduct ordinary and necessary business-related expenses In general, you can deduct ordinary and necessary business-related expenses for traveling away from home, entertaining clients and customers, and giving gifts to customers,
Read More »
Property Tax in General
Top Takeaways 1: Property Taxes Vary by State In general, property tax is a system in which all property is valued and taxed at a certain rate. Each state has rules established by its
Read More »
S Corporation Termination
Top Takeaways 1: S Corporation can terminate through revocation There are a variety of ways an S Corporation can terminate its S corporation election. First, an S Corporation may terminate by revocation, if more
Read More »
Payroll Tax Audit
Top Takeaways 1: IRS is Stepping Up Examinations of Payroll Taxes Starting in February 2010, the IRS began an initiative to audit the payroll of companies. In particular, they focused on improper classification of
Read More »
401(k)
Top Takeaways 1. 401(k) is a tax-qualified deferred compensation plan 401(k) is a tax-qualified deferred compensation plan offered to employees by employers as a common retirement plan option. With a 401K, an employee elects
Read More »
