updates
Can I deduct IRA contributions in 2019?
Eligible taxpayers can usually contribute up to $6,000 to an IRA for 2019. The limit is increased to $7,000 for taxpayers who were age 50 or older by the ...
Jul 20, 2026 • 1 READS
news
Why is a corporation taxed separately from individuals?
Because a corporation is a separate legal entity from its owners, the company itself is taxed on all profits that it cannot deduct as business expenses. W...
Jul 20, 2026 • 1 READS
news
What does tax RFD mean?
That would be your California refund only. The deposit stands for Franchise Tax Board California State Tax Refund. This would NOT include your Federal ref...
Jul 20, 2026 • 0 READS
general
When was the first tree farm?
June 12, 1941 On June 12, 1941, the nation’s first tree farm was dedicated near Montesano, Washington. Owned by the Weyerhaeuser Timber Company, the 120,0...
Jul 20, 2026 • 1 READS
updates
When to withdraw excess contributions from Roth IRA?
You must also withdraw any earnings on the excess contributions. Earnings are considered earned and received in the tax year during which the excess contr...
Jul 20, 2026 • 1 READS
general
How to know if your tax return has been filed?
After transmitting your return, it is your responsibility to ensure that it is accepted by the IRS or state agency. If you do not receive an email confirm...
Jul 20, 2026 • 1 READS
updates
Can I change my employer identification number?
Request a new EIN from IRS To change an existing EIN, check the IRS requirements. If you are eligible for a new EIN, then submit Form SS-4 to the IRS. Can...
Jul 20, 2026 • 1 READS
general
Can a LLC elect an S corporation on IRS Form 2553?
However, IRS Form 2553 allows LLCs and Corporations to elect “S” corporation status. The S corporation election is a tax designation granted through the I...
Jul 19, 2026 • 1 READS
news
Can you be employed and pay your own tax?
You pay tax on your self-employed profits at the same time as you pay tax on all of your other income for a tax year under Self Assessment. Remember you p...
Jul 19, 2026 • 1 READS
updates
Do you pay capital gains on reinvested money?
Capital gains generally receive a lower tax rate, depending on your tax bracket, than does ordinary income. However, the IRS recognizes those capital gain...
Jul 19, 2026 • 1 READS
