Can you be a dual citizen of US and India?
Dual Nationality: India and the United States. The Indian government’s Overseas Citizens of India (OCI) and Person of Indian Origin (PIO) programs are oft...
Category: Updates
What are the three basic strategies to use in planning for taxes?
Three basic tax planning strategies. Timing. Income shifting. Conversion. How do you optimize your taxes? 15 Legal Secrets to Reducing Your Taxes Contribu...
Is freelance work considered self-employment?
The Internal Revenue Service considers freelancers to be self-employed, so if you earn income as a freelancer you must file your taxes as a business owner...
Why do self employed pay quarterly taxes?
If you expect to owe $1,000 or more in taxes for the year (after deduction and credits), the IRS expects you to make quarterly tax payments on your busine...
Can you get a loan on accounts receivable?
Loans may be unsecured or secured with invoices as collateral. With an accounts receivable loan, a business must repay. Companies like Fundbox, offer acco...
Can LLCs own property?
LLCs are companies that allow individuals (or a group of people or even corporations) to own a company that ultimately owns other property — in our case, ...
What happens to capital gains when parent sells property?
If the child then later sells the property, the capital gains owed will only be the extent of any appreciation in the property after the date of the paren...
How do you find out what profit a company makes?
To calculate net profit, take your gross profit (sales minus direct costs) then subtract indirect costs, interest and taxes. Indirect costs are everything...
Can I pay my wife as a 1099 employee?
Or, it is perfectly acceptable for you to treat your wife as a subcontractor and issue her a 1099-NEC for the work she does. You can deduct it as a busine...
What are disadvantages of LLCs?
Disadvantages of creating an LLC Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an ...
