Is Form 4562 required every year?
Who needs to file Form 4562? You’ll need to file Form 4562 for every year that you continue to depreciate your asset. Can you write off equipment deprecia...
Category: Updates
Does Long Term Care protect assets?
Long Term Care Insurance: A Critical Piece of Asset Protection. Stocks, bonds, annuities, mutual funds, 401(k)s, pensions, CDs…they all make up a well-bal...
What is annual growth rate of GDP?
Definition: The annual average rate of change of the gross domestic product (GDP) at market prices based on constant local currency, for a given national ...
Can form 8332 be filed electronically?
No, The Form 8332 can’t be e-filed. The non-custodial parent must signed the form and mail it to the IRS along with the transmittal Form 8453 within 3 bus...
Can you inherit a single-member LLC?
What happens to a Single Member LLC, once the member of the LLC dies? An LLC can survive beyond the death of its owner. Even if the LLC is not mentioned i...
Does IPO increase company value?
A company that puts its stock up for sale through an IPO will not benefit from a rising share price on shares they’ve already sold to the market. It is on...
What is the difference between working capital and current assets?
Working capital, also known as net working capital (NWC), is the difference between a company’s current assets, such as cash, accounts receivable (custome...
How is Form 1099-B used on a tax return?
How Form 1099-B is used 1 You pay capital gains taxes with your income tax return, using Schedule D. 2 The data from Form 1099-B helps you fill out Sched...
Is petty cash a miscellaneous expense?
Petty cash, or petty cash fund, is cash that is used for a business’s small, miscellaneous expenses; rather using a check or other form of payment. How do...
What is separation of service 401k?
The separation of service rule states that if an employee who is participating in a company retirement plan, such as a 401(k) plan, leaves the employer du...
