You will need to pay another $800 fee for the following year when you file Form 568. The $800 fee you pay for the following year is just an estimated paym...

I too received the “Confirm Tax Return Filing” letter from the California Franchise Tax Board. The letter requested copies of driver’s licenses, social se...

(h) “Occasional or part-time basis” means any employee working less than 40 hours per week and, for the purposes of this definition, students 18 years of ...

for an income account, you credit to increase it and debit to decrease it. for a capital account, you credit to increase it and debit to decrease it. How ...

Your penalties for filing late will be calculated like this: 5% of the balance owing as late filing penalty. 1% of the balance owing as additional penalty...

Most Americans who move in this year won’t be able to take a federal tax deduction for moving expenses, thanks to the Tax Cuts and Jobs Act of 2017. Tax r...

The filing status is important because an individual’s tax bracket (and, therefore, the amount they must pay) is determined by marital status, the number ...

Pay CP161 Online This can be done online on the IRS website and once they process the payment, the case will be closed, and they will no longer hold a wit...

A person can start a limited liability partnership with any amount of capital. There is no requirement to show proof of capital invested during the incorp...

Generally speaking, if you held your shares for one year or less, then profits from the sale will be taxed as short-term capital gains. If you held your s...