If you're like most Americans, your automobile is one of your biggest expenses. Gas, insurance, maintenance, and licensing all add up to a generous portion of the average person's income, not to mention the actual cost of buying or leasing a vehicle.
IRS Treatment of the One-Member LLC.
An LLC with only one member / owner is automatically considered to be a sole proprietorship unless an election is made to be treated as a corporation.
The corporation is America's most popular and oldest form of business entity. As such, corporate statutes have had the opportunity to evolve over the years and have become quite uniform throughout the states. Today, the most popular forms of corporation include the "General-For-Profit Corporation (or, C-Corporation)" and the "S-Corporation."
You may find this hard to believe, but if you have children under age 17, you may receive a check from the IRS this summer. No kidding!
With summer day-camp season upon us, here's a way to let Uncle Sam pick up the tab for your children's fun. Many parents take advantage of the child daycare credit. Well, this same credit can also be used for summer day-camp expenses.
It's important that your business be on the "up-and-up" right from the start. Taking care of the legal issues associated with starting a new business will keep you out of hot water in the future. Here are the first steps you need to take:
1. Register Your Business Name
Wayne Davies joined the WebProNews team of experts with his break out article "How To Reduce Your Business Taxes." He's been answering WebProNews readers' tax questions ever since.
When it comes to filing your tax return, spending 37 cents could be the biggest mistake you ever make.
Millions of taxpayers make the mistake of putting their income tax return in a regular letter-sized envelope, sticking on a 37 cent stamp, and placing the envelope in the mailbox.
Congress recently passed legislation that is supposed to result in a more "sensitive" Internal Revenue Service. You know, not such a lean, mean, tax-collecting machine.
iEntry 10th Anniversary
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