Which Form Should You Use: 1040, 1040-SR, or 1040-NR?

2 weeks ago

For individuals filing their taxes in the United States, the IRS provides a variety of forms based on your specific…

When Should an LLC File as a Corporation vs a Partnership?

2 weeks ago

When forming a Limited Liability Company (LLC), one of the key decisions business owners must make is whether to elect…

When Does Your Corporation Need to File Form 1120?

2 weeks ago

For corporations operating in the United States, filing taxes is a fundamental responsibility. One of the primary forms that corporations…

When Do You Need to Collect Sales Tax in a New State?

2 weeks ago

For businesses operating across state lines in the U.S., understanding when and where to collect sales tax is crucial to…

When and How to Issue K-1s to Your Partners

2 weeks ago

Partnerships and Limited Liability Companies (LLCs) are "pass-through" entities, which means they are not directly taxed by the IRS. Instead,…

What’s the Difference Between Sales Tax and Use Tax?

2 weeks ago

When it comes to taxation, especially for businesses operating in multiple states, understanding the difference between sales tax and use…

What’s the Difference Between a Tax Credit and a Deduction?

2 weeks ago

When it comes to preparing taxes, understanding the difference between a tax credit and a deduction is essential. Both tax…

What’s the Difference Between a Shareholder K-1 and a Partner K-1?

2 weeks ago

When it comes to U.S. taxes, understanding the differences between various tax forms is crucial for compliance and accurate reporting.…

What U.S. CPAs Should Look for When Choosing an Offshore Tax Prep Partner

2 weeks ago

In today's globalized business environment, U.S. Certified Public Accountants (CPAs) are increasingly looking to offshore tax preparation partners to manage…

What to Do If You Owe Back Sales Tax

2 weeks ago

If you owe back sales tax, it’s essential to take action as soon as possible to avoid significant penalties, interest…

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