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When it comes to tax preparation, it’s important to clearly understand the definition of employed vs. self-employed.
It’s back to school time and as every parent knows, arts and athletics are expensive activities for children to partake in at this time of the year.
A special tax at the top marginal rate will be charge to a “specified employee” for contributions to an employee profit sharing plan if the contribution exceeds 20% of the employee’s salary received in the year.
With a new school year around the corner, you may be considering taking in a university student as a renter. If so, you will want to get your documentation ready for a change in your tax filing.
Over the past several years, corporate income tax rates have decreased which has affected reporting by individual investors on their personal returns for dividend income.