How is sick pay reported to the IRS?
the employer FICA tax on sick pay is transferred from the third party to the employer, the sick pay wages and liability for the employer FICA tax are repo...
Category: General
Is the transfer of property from husband to wife taxable?
In United States v. Davis, the Supreme Court made the determination that the transfer of property from a husband to a wife in exchange for the wife’s agre...
What is the threshold for paying taxes on Social Security disability?
The IRS states that your Social Security Disability Insurance benefits may become taxable when one-half of your benefits, plus all other income, exceeds a...
What to do if parent dies in another country?
What To Do If Death Occurs Out Of The Country Contact The Consulate Or Embassy In The Place The Person Died. According to the State Department’s Bureau of...
Is free slot play taxable?
As we state often, in fact pretty much in the beginning of every question about taxes, the IRS considers all prizes and other “wins” as income, no matter ...
What happens if a broker loses your money?
If a brokerage fails, another financial firm may agree to buy the firm’s assets and accounts will be transferred to the new custodian with little interrup...
Are employment claim settlements taxable?
If you receive a settlement in an employment-related lawsuit; for example, for unlawful discrimination or involuntary termination, the portion of the proc...
Is EB3 going to be current October 2020?
EB-1: All countries except for China and India will remain current in October. China and India will advance by three months to June 1, 2018. All other cou...
Do trusts need to take RMD?
There are still RMD rules for Trusts as IRA beneficiaries. A person wanting to name a trust as the IRA beneficiary needs to confirm why they want the trus...
How are health insurance premiums treated in a s Corp?
Health insurance premiums paid by an S Corp for more than 2% shareholders must be treated as wages to that owner. In other words, the only way an S Corp c...
