Flex Tax and Consulting Group (FTCG)
Election to Treat Certain Payments of Estimated Tax as Paid by the Beneficiary A trustee may elect to treat any portion of a payment of estimated tax made by a trust as a payment made by a beneficiary of the trust. This election may also made by the executor of an estate in a tax […]
Two Timely Elections That Trustees and Executors Should Consider Now Read More »
Questions about tax payments and penalties come up all year long. Taxpayers can find most answers to these questions on IRS.gov. They can head over to the Let Us Help You page, which features links that take users to information and resources on a wide range of topics related to penalties and payments. Payments Payment options
Taxpayers can go to IRS.gov for answers to questions about payments and penalties Read More »
It’s almost here. The filing deadline for taxpayers who requested an extension to file their 2018 tax return. This year’s deadline is Tuesday, October 15. Even though time before the extension deadline is dwindling, there’s still time for taxpayers to file a complete and accurate return. Taxpayers should remember they don’t have to wait until
The filing deadline for extension filers is almost here Read More »
Start-up Business Consultants and Software Engineers, particularly those in the early phases of their careers. To face some unique tax complexities and tax planning opportunities due to their career path. Flex Tax and Consulting Group works with many of these consultants and has even given on-site tax seminars at several consulting firms. This article attempts to
What Start-up Business Consultants and Software Engineers Should Know About Their Taxes Read More »
Penalties and Abatement In fiscal 2012, the IRS assessed 37.9 million penalties against taxpayers totaling $26.8 billion. Individual, business, and payroll penalties for failure to file, failure to pay, and failure to deposit (the types potentially eligible for FTA) were 74% of all penalties assessed in 2012. The IRS assesses most of these penalties automatically,
Using the First-Time Penalty Abatement Waiver Read More »
Have you ever been in the grocery store check out line, reached into your pocket, and pulled out a coupon only to find that it had already expired? You may experience a similar feeling (magnified, perhaps, by the amount of money involved). If you issued equity subject to vesting in a company and you don’t hear about
WHAT IS A SECTION 83(B) ELECTION AND WHY SHOULD YOU FILE ONE? Read More »
Starting a business can be very rewarding It can also be a little overwhelming. From business plans to market strategies, and even tax responsibilities. There are many things to consider. Here are tax tips can help new business owners find success what new business owners can do to help get off to a good
These tax tips can help new business owners find success Read More »
Taxpayers can follow these three steps to use new Tax Withholding Estimator All taxpayers should use the new Tax Withholding Estimator to do a Paycheck Checkup. This tool helps people make sure their employers are taking out the right amount of tax from the employee’s paychecks. The money withheld from an employee’s paychecks throughout the year should cover
New Tax Withholding Estimator Read More »
As a small business owner, you may have questions about where’s the best place for you to incorporate or organize your business. After all, just because you operate your company in one state doesn’t mean you have to incorporate or organize your business there, as well. Entrepreneurs looking to incorporate their corporations or organize their
Should You Incorporate or Organize Your Business Outside Your Home State? Read More »
A Limited Liability Company (LLC) is not a separate tax entity like a corporation; instead, it is what the IRS calls a “pass-through entity,” like a partnership or sole proprietorship. All of the profits and losses of the LLC “pass through” the business to the LLC owners (called members), who report this information on their personal tax returns. The LLC
How Limited Liability Companies (LLCs) Are Taxed? Read More »
More information on virtual currencies can found on IRS.gov. And Flex Tax and Consulting Group can help you all tax services, please don’t hesitate to contact with us.
IRS Letters to Virtual Currency Owners Regarding Back Taxes Read More »
The maximum benefit an eligible company can claim against payroll taxes each year under the PATH Act is $250,000.
How the R&D Credit Can Help New Companies Offset Payroll Taxes Read More »
You have been operating your business as a sole proprietor for several years. Lower Your Employment Taxes by Operating as an S Corporation. Now, as the business is growing, you are thinking about incorporating as an S corporation in order to limit your liability, avoid double taxation of corporate profits, and to make it easier to obtain
Lower Your Employment Taxes by Operating as an S Corporation Read More »
A tax strategy for spreading capital gains over several years Anyone who sells a capital asset on an installment note with the buyer making payments over time can choose to spread the income from the sale over the life of the installment note. Spreading the capital gains income over multiple years can, in some circumstances,
What Is Restricted Stock?
Restricted stock is, by definition, stock that has been granted to an executive that is nontransferable and subject to forfeiture under certain conditions, such as termination of employment or failure to meet either corporate or personal performance benchmarks. Restricted stock also generally becomes available to the recipient under a graded vesting schedule that lasts for several years.
How restricted stock and restricted stock units (RSUs) are taxed Read More »
Navigating 1099 taxes is no easy task! When you earn money as an independent contractor, you are taxed as a “business-of-one” in the eyes of the IRS. Just like a company automatically withholds taxes from employees’ paychecks, you need to withhold for your own taxes. The good news is that, also like a business, you
Top Ten 1099-MISC Tax Deductions Read More »
By now you may have heard some of the rumors surrounding the 2018 tax reform bill and could be wondering how it will affect you and your taxes. Come with Flex Tax and Consulting Group walk through some of the most significant changes and what they could mean for you. The New Tax Reform Bill Doesn’t
What You Need to Know The 2018 Tax Reform Bill? Read More »
I’m excited to announce that A&K Tax and Consulting named one of Best of Thervo 2018 firms, that recognizes accounting firms’ overall superior financial and operational performance. It was an honor only less than four percent of all Thervo professionals could earn that. Hard work deserves recognition, so we’re proud to offer you our best service
Best of the Accounting and Tax Firm 2018 – Thervo Read More »
The US tax code has witnessed some major revisions for both companies and individuals. As a statement of fact, this present tax reform represents the most significant tax reform in the past 30 years. The bill to revise the tax laws in 2018 was named “An Act to provide for reconciliation according to titles II
Tax Reform 2018 Explained Read More »
