To be qualified for bonus depreciation, a used asset must not have been previously used by the taxpayer or a predecessor at any time before the acquisitio...

Both LLCs and partnerships are created by filing forms with the state. But there are some differences in the way the two business types are run. In genera...

There are several reasons an individual might request a stop payment, including: Incorrect information on a check. A check mailed to the wrong address. A ...

How does the government tax home sale profits? Here’s how it works: Your home sale proceeds are considered a “capital gain,” in other words, the profit yo...

You don’t need to be incorporated to establish a solo 401(k), but if you’re not, you need a Federal Employer Identification Number (EIN), which you can ge...

First, make sure you are an independent contractor and not an employee. You’re an independent contractor if you’re in business for yourself. You’re an emp...

The Takeaway. Traditional 401(k) plans are tax-deferred. You don’t have to pay income taxes on your contributions, though you will have to pay other payro...

Every resident, part-year resident or nonresident individual must file a Pennsylvania Income Tax Return (PA-40) when he or she realizes income generating ...

Employees use Form W-2 to prepare their tax returns. Every employer that paid you at least $600 during the year has to provide you with a W-2 and send a c...

Investing in a Keogh As with a 401(k), you can defer taxes on the money you invest in a Keogh until retirement. You can begin taking distributions at age ...