How to Bill a Client Create a (Verbal or Paper) Contract. Before you even begin working with a client, it’s important to have a mutual agreement in place....

A truck driver performing services for a company under a contract referring to him as an independent contractor, but who is subject to the direction and c...

Form 8843 is not an income tax return. Form 8843 is merely an informational statement required by the U.S. government for certain nonresident aliens (incl...

Include his base salary of $25,000, his unaccountable car allowance of $2,500, and the $6,000 social security tax allowance in Box 1 . $33,500.00 . Note t...

EINs must be used by business entities–corporations, partnerships, and limited liability companies. However, most sole proprietors don’t need to obtain an...

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Because of this, the IRS uses a separate set of tax brackets for married couples filing joint returns that allows higher levels of combined income to be t...

Taxation on Foreign Inheritances and IRS Form 3520. Form 3520 is officially the ‘Annual Return To Report Transactions With Foreign Trusts and Receipt of C...

Where there are multiple beneficiaries for the residuary estate, the executor first determines the overall value of the entire estate to calculate each be...

Figuring Your Loss. As a sole proprietor, you complete a Schedule C, Profit or Loss From Business, and attach this to your 1040. On the Schedule C, you li...