Plan Ahead for the 3.8% Net Investment Income Tax
High-income taxpayers face a 3.8 percent net investment income tax (NIIT) that is imposed in addition to regular income tax. Fortunately, there are some steps you may be able to
High-income taxpayers face a 3.8 percent net investment income tax (NIIT) that is imposed in addition to regular income tax. Fortunately, there are some steps you may be able to
Many businesses use independent contractors to help keep their costs down. If you are among them, make sure these workers are properly classified for federal tax purposes. If the IRS
Before the COVID-19 pandemic hit, the number of people engaged in the ‘gig’ or sharing economy had been growing, according to several reports. And reductions in working hours during the
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you are subject to both income tax and self-employment tax. There may
Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there is a valuable federal income tax benefit (the business energy credit)
The May 17 deadline for filing your 2020 individual tax return is approaching. It is important to file and pay your tax return on time to avoid penalties imposed by
Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year
‘Tax day’ is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual April 15 due
The housing market in many parts of the country is strong this spring. If you are buying or selling a home, you should know how to determine your ‘basis.’ How