What are passive activity loss rules and how do they affect you? Fiducial defines passive activities and explains the rules regarding associated losses.
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Owners of closely held corporations be interested in withdrawing cash from their businesses at a low tax cost. Here are some strategies Fiducial suggests.
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An employer would typically be penalized for failing to deposit federal employment tax. Examples include deposits of withheld income taxes and FICA taxes.
Many professions require extensive travel and time in paid lodging.Traditionally, taxpayers claim these as travel deductions. However, new rules are coming.
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What do you do if you end up owing money on your taxes? The IRS encourages you to pay the full amount by imposin penalties and interest on late payments.
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