This is the most important attribute of a corporation. In a sole proprietorship or a partnership, the owners are personally responsible for business debts. If the assets of the sole proprietorship or partnership cannot satisfy the debt, creditors can go […]
The New Form 1040 and Six Accompanying Schedules
Tax reform of 2017 promised us shorter, simpler, tax forms. We even were told that we might be able to file on a form the size of a postcard – although we may have wondered how that would work out. […]
Why Your Tax Refund Could Be Lower Than Expected
For some people, the new tax changes mean they will owe more tax. You are most likely to owe more tax in 2018 if: You previously took large deductions for state and local taxes, including property tax. The total deduction […]
8 Things to Know About an IRS Notice
If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out a variety of notices to taxpayers. Not every letter means there’s an impending audit coming your way. Many of […]