Flex Tax and Consulting Group (FTCG)
This article was authored working with wikiHow, the world’s largest “how to” site, and also featured here on the wikiHow website. Before you can improve your financial health, you need to analyze your current finances. Keep track of your expenses for a month and look at where you are spending the most. Use extra money to […]
How to Analyze Your Current Finances Read More »
During this COVID-19 pandemic, landlords have two big possible problems: Tenants who can’t pay the rent. Tax losses they can’t deduct. We’ll start with the tenants and then move on to the rental property tax-loss issues. For the first time in U.S. history, residential landlords are subject to a sweeping nationwide federal moratorium on evictions
Government to Landlords: Drop Dead! Read More »
We have already known a lot of charity entities in the world. They always had different operating under different business types; foundations, nonprofit organizations, or charities participate in our daily activities. We may use these terms incorrectly and interchangeably. Although all the organizations mentioned are to help the less fortunate in society, they differ in
What is the difference between a nonprofit and foundation? Read More »
Deciding Between an Asset Sale or Entity Sale Businesses can be sold, and their assets transferred, either through an asset sale or entity sale.1 In an asset sale, the entity sells its tangible and intangible assets to the buyer, while the entity’s owners retain equity in the entity. On the other hand, in an entity sale,
Deciding Between an Asset Sale or Entity Sale Read More »
Equity Compensation Summary Restricted stock units (RSUs) are one way for companies to grant shares of company stock to employees. The term “restricted” refers to the vesting schedule, or the specified period that must elapse before you’re paid the shares of stock. You pay taxes on the value of the RSUs at vesting. You pay
EQUITY COMPENSATION 101: RSUS (RESTRICTED STOCK UNITS 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 »
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 »
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 »
