When Congress established tax-favored retirement plans, they allowed taxpayers to take a tax deduction for the amount of their allowable contribution to the plans. But they also included a requirement for a portion of the funds to be distributed each year and be subject to income tax. Such a distribution is referred to as a minimum required distribution (RMD).
Corporate Tax Return
When you select a tax expert, do you know what to look for to protect you? It’s tax time again, and you have to select a tax expert. As a taxpayer, you need to choose the right tax preparer to help file your IRS and state return. Protect yourself, protect your business and choose wisely! […]
Preparing Taxes for 2018 is Not Business As Usual The change behind tax reform has the way most taxpayers are thinking about and planning for their taxes. Preparing taxes in 2018 is no longer business as usual. For those who think it is are in for a rude awakening come tax time next year.
Corporate Tax Filing Deadline Change History Corporate tax filing deadline changes were made about two years ago. Congress made an update to the deadline for filing Partnership returns. The old deadline was April 15th. This deadline never made too much sense since the owners of the partnership could not complete their tax return until they […]