How to Pick the Right Business Ownership Structure
Here’s how it works for sales tax: It used to be that a business had to have a physical presence in a state to be taxed there. Last June, the US Supreme Court held in South Dakota v. Wayfair that states can tax goods and services provided that they were sold to or rendered to … Read more
How many tax forms does the IRS have? I don’t think anyone knows. Fortunately, we need to understand only a handful of them to know what your company must file, what your company gives to you, and what you must file. US citizens must file one of three federal income tax returns. They are Form … Read more
Congress passed the Tax Cuts and Jobs Act (TCJA) in late 2017, effective January 1, 2018. This statute included substantial changes to taxation of corporations and LLCs. The federal corporate income tax rates used to be graduated. Corporations making not more than $50,000 per year had a tax rate of 15%. Over $50,000, the rates fluctuated, … Read more