Deferred compensation is a valuable employer-sponsored benefit plan that allows employees to receive their compensation at a later date. By understanding how to apply deferred compensation to your taxes, you …
How to Report a Business Investment Loss for Tax Purposes
Discovering that your business investment has resulted in a loss can be disheartening. However, the Internal Revenue Service (IRS) offers a silver lining by allowing you to write off this …
How to Complete a W-9 Form as a Private Contractor
As a small-business owner or a private contractor, it is crucial to understand how to properly fill out a Form W-9. This form is necessary for each person or entity …
Maximizing Tax Benefits: Adjusting Tax Exemptions for Mortgage Interest
Owning a home comes with the advantage of being able to write off mortgage interest payments. By adjusting the withholding on your W-4, you can reduce the amount of taxes …
Submitting Estimated Taxes for Corporations to the IRS
Submitting estimated taxes for corporations is crucial to avoid any last-minute surprises when it comes to tax payments. This article provides a comprehensive guide on how to submit estimated taxes …
Deduction of Workers’ Compensation from Federal Tax Form 1040
Small businesses have the opportunity to deduct workers’ compensation costs from their federal and state taxes. However, the rules and requirements for these deductions vary from state to state. This …