Research and Development Credit Eligible Costs
What costs are eligible for R & D credits?
Partner Buyouts
Let’s assume that no crazy elections were made, such as a step up or down in basis when the partnership was formed. Then, in general, when partners buy out another partner, the remaining partners usually step into the shoes of the departing…
California S Corp Income Double Taxation
Does an S Corporation pay taxes in California? Yes. All California LLCs or corporations that choose S Corp taxation must pay a 1.5% state franchise tax on their net income. In California, S corporations face double taxation due to the…
Guaranteed payments
In the world of business and finance, certain terms can be misleading, often leading to confusion and misconceptions. One such term is “Guaranteed Payments” when it comes to LLC members. At first glance, the name might suggest a sense of…
Non Profit Application Form 1023
The non-profit form to use to make application in the US is a Form 1023.
ITIN Expiring
To renew your ITIN (Individual Taxpayer Identification Number), you can follow these steps: Remember, renewing your ITIN is crucial to ensure your compliance with tax laws and to maintain your ability to file federal tax returns. By following these steps…
The oldest tax return
How old is the oldest tax return. The oldest known tax return dates back to ancient Egypt in 3000 BC. It was discovered on a piece of papyrus and documented the amount of grain collected as tax during that period….