Understanding exactly what a withholding agent is can be beneficial for a variety of reasons. Per the Internal Revenue Service, a withholding agent is a person that is either from the United States, or a foreign individual, which has full control over an item of income of a foreign person subject to withholding. The control […]

Understanding exactly what a withholding agent is can be beneficial for a variety of reasons. Per the Internal Revenue Service, a withholding agent is a person that is either from the United States, or a foreign individual, which has full control over an item of income of a foreign person subject to withholding. The control […]

Even though you are a non-profit organization, that does not mean that you are not going to need to have a bank account, with funds, in order to handle incoming money as well as paying out of expenses. The goal with a non-profit organization is to have your income and your expenses net out to […]

Even though you are a non-profit organization, that does not mean that you are not going to need to have a bank account, with funds, in order to handle incoming money as well as paying out of expenses. The goal with a non-profit organization is to have your income and your expenses net out to […]

Do you have a partnership that you are trying to get off of the ground? When you are starting up a partnership, there are going to be some tasks that you take on. These will be business-related tasks that will allow you to do things such as put cash or liquid assets away, record revenues, […]

Do you have a partnership that you are trying to get off of the ground? When you are starting up a partnership, there are going to be some tasks that you take on. These will be business-related tasks that will allow you to do things such as put cash or liquid assets away, record revenues, […]

What is the definition of a sports team or teams in the eyes of the Internal Revenue Service? If you have a sports team as part of a community, where do they fit in regarding their tax status, what they are liable for versus not, etc? You want to think of the sports team or […]

What is the definition of a sports team or teams in the eyes of the Internal Revenue Service? If you have a sports team as part of a community, where do they fit in regarding their tax status, what they are liable for versus not, etc? You want to think of the sports team or […]

Do you know the difference between a PTO and PTA school organization? These are two common types of Non-Profit Organizations as defined by the IRS. The PTA “Parent Teacher Association” and the PTO “Parent Teacher Organization” have distinct differences between the two. A Parent-Teacher Association (PTA) is defined as “an organization of local groups of […]

Do you know the difference between a PTO and PTA school organization? These are two common types of Non-Profit Organizations as defined by the IRS. The PTA “Parent Teacher Association” and the PTO “Parent Teacher Organization” have distinct differences between the two. A Parent-Teacher Association (PTA) is defined as “an organization of local groups of […]

Does a non profit organization have a need for an employer identification number? Just like any other organization, it is important for the non profit group to have their own Tax ID (EIN) number. The need for the non profit organization to have an employer identification number is the same as any other business. The […]

Does a non profit organization have a need for an employer identification number? Just like any other organization, it is important for the non profit group to have their own Tax ID (EIN) number. The need for the non profit organization to have an employer identification number is the same as any other business. The […]

If you are running a corporation, one of the big questions you will often have is whether you will need an Employer Identification Number or EIN. A Tax ID (EIN) number is going to be a requirement if you intend to be in good standing with the Internal Revenue Service. You want to think of […]

If you are running a corporation, one of the big questions you will often have is whether you will need an Employer Identification Number or EIN. A Tax ID (EIN) number is going to be a requirement if you intend to be in good standing with the Internal Revenue Service. You want to think of […]

The definition of a Corporation (C-Corporation) is an entity type recognized by the federal government and the IRS as a standalone entity that is taxed separately from its owners. In other words, the owners file their individual tax returns separately from the tax returns of the corporation. Corporations are ideal for businesses that will eventually […]

The definition of a Corporation (C-Corporation) is an entity type recognized by the federal government and the IRS as a standalone entity that is taxed separately from its owners. In other words, the owners file their individual tax returns separately from the tax returns of the corporation. Corporations are ideal for businesses that will eventually […]

The Internal Revenue Service has a variety of definitions for topics related to retirement accounts for employees. These can include things such as a 401(k) plan, a defined benefit plan, as well as other types. For all of these, you are going to have what is known as a “plan administrator”. What exactly is a […]

The Internal Revenue Service has a variety of definitions for topics related to retirement accounts for employees. These can include things such as a 401(k) plan, a defined benefit plan, as well as other types. For all of these, you are going to have what is known as a “plan administrator”. What exactly is a […]