You can’t deduct any portion of your lease payments if you use the standard mileage rate. To use the standard mileage rate, you must use it the first year...

Paying cash for a home in Florida definitely reduces your closing costs. Unless you are buying a new construction home, the typical closing costs for a ca...

Duration of Residency. For grant and scholarship programs requiring award recipients to be New York State residents, the student must be a legal resident ...

Typically the employer will pay the actual amounts expensed by the employee. However, paying subsistence expenses under the flat rate scheme can often app...

When stocks are sold below the company’s valuation, the company can purchase its own shares for a more affordable price and sell them at a higher rate, ga...

The IRS exempts corporations from receiving the 1099 form because these entities are already subject to strict state and federal reporting and administrat...

If you do not have an Operating Agreement, then depending on state laws you might have to buy out your partner’s membership interest or might have to diss...

Attorneys and certified public accountants do not need to obtain a PTIN unless they prepare for compensation all or substantially all of a federal tax ret...

A fixed monthly car allowance is considered compensation, and therefore taxable income at both federal and state levels. Both employee and employer must a...

Many faculty contracts are written on a 9-month basis at U.S. institutions. That means you are paid a salary over the course of 9 months, and not paid for...