US Taxation

Why Automated Sales Tax Filing Saves Time and Reduces Penalties

For businesses, managing sales tax filing can be a time-consuming and complex task. With constantly changing tax rates, multiple jurisdictions,…

1 month ago

White-Label Tax Prep: Let PEAK Handle the Back-End While You Focus on Clients

In the competitive world of tax preparation, CPAs, tax professionals, and accounting firms are constantly seeking ways to optimize their…

1 month ago

Which U.S. States Have No Personal Income Tax?

When planning your finances or considering a move, one of the factors that may influence your decision is the state…

1 month ago

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

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

1 month ago

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

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

1 month ago

When Does Your Corporation Need to File Form 1120?

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

1 month ago

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

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

1 month ago

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

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

1 month ago

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

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

1 month ago

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

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

1 month ago

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