Understanding what a responsible party is all about is an important thing to be aware of when talking about the Internal Revenue Service. One of the main parts of starting an organization or business is to obtain an Employer Identification Number or Tax ID (EIN) number. To obtain the number, you need to complete the […]
Understanding what a responsible party is all about is an important thing to be aware of when talking about the Internal Revenue Service. One of the main parts of starting an organization or business is to obtain an Employer Identification Number or Tax ID (EIN) number. To obtain the number, you need to complete the […]
There exist a lot of different types of employer plans. These include Money Purchase Plan set-ups, the traditional 401K, and more. With each of these employer plans, though, is it necessary for them to obtain an employer identification number? The Tax ID (EIN) number is necessary since the employer plan operates as its miniature organization. […]
There exist a lot of different types of employer plans. These include Money Purchase Plan set-ups, the traditional 401K, and more. With each of these employer plans, though, is it necessary for them to obtain an employer identification number? The Tax ID (EIN) number is necessary since the employer plan operates as its miniature organization. […]
Are you covered by an employer retirement plan? Many think they have an employer retirement plan, only to realize it is actually something different. You want to really hone in on the Internal Revenue Service definition of one of these retirement plans to make the determination if you meet the criteria or not. You can […]
Are you covered by an employer retirement plan? Many think they have an employer retirement plan, only to realize it is actually something different. You want to really hone in on the Internal Revenue Service definition of one of these retirement plans to make the determination if you meet the criteria or not. You can […]
What is a Personal Service Corporation? | IRS Definition of a Personal Service Corporation
14
Dec
2021
What exactly is a personal service corporation in the eyes of the Internal Revenue Service? When you think about a personal service corporation, you need to be thinking about its main purpose. As a personal service corporation, the goal of the corporation to provide something to individuals or groups of individuals. What the corporation is going to […]
What exactly is a personal service corporation in the eyes of the Internal Revenue Service? When you think about a personal service corporation, you need to be thinking about its main purpose. As a personal service corporation, the goal of the corporation to provide something to individuals or groups of individuals. What the corporation is going to […]
A social or savings club is something that is beginning to take hold much more in this day and age. In the spirit of sharing funds, it is all about having a group of people come together for a common financial savings goal. With a social or savings club, people join forces to save towards a similar […]
A social or savings club is something that is beginning to take hold much more in this day and age. In the spirit of sharing funds, it is all about having a group of people come together for a common financial savings goal. With a social or savings club, people join forces to save towards a similar […]
Ever hear of a social savings club? Do you have an idea as to what type of organization this is all about? Have you ever wanted to get a group of folks together to save money towards a common goal? If so, you probably thought about a social savings club. A social savings club is a […]
Ever hear of a social savings club? Do you have an idea as to what type of organization this is all about? Have you ever wanted to get a group of folks together to save money towards a common goal? If so, you probably thought about a social savings club. A social savings club is a […]
When an individual wants to make sure that their final arrangements are covered, they can set up something known as a Qualified Funeral Trust. Final arrangements can be many tens of thousands of dollars, and many don’t want to place this burden on their family. Through a Qualified Funeral Trust, they can prepay for their final […]
When an individual wants to make sure that their final arrangements are covered, they can set up something known as a Qualified Funeral Trust. Final arrangements can be many tens of thousands of dollars, and many don’t want to place this burden on their family. Through a Qualified Funeral Trust, they can prepay for their final […]
A charitable remainder annuity trust requires a separate tax ID because it no longer reports its taxes under the original grantor, nor does it report its taxes under beneficiaries. Luckily, an EIN isn’t difficult to get, and the EIN will usually be acquired when the trust account is opened. Any trust account that is no […]
A charitable remainder annuity trust requires a separate tax ID because it no longer reports its taxes under the original grantor, nor does it report its taxes under beneficiaries. Luckily, an EIN isn’t difficult to get, and the EIN will usually be acquired when the trust account is opened. Any trust account that is no […]
What is a Charitable Remainder Annuity Trust? | IRS Definition of a Charitable Remainder Annuity Trust
29
Oct
2021
Under a charitable remainder annuity trust, a grantor places an asset or assets within a trust controlled by a trustee. This trust account pays out a certain amount as income to a designated beneficiary. Once the grantor passes on, the remaining assets are given to a charity of choice. What Are the Benefits of a CRAT? […]
Under a charitable remainder annuity trust, a grantor places an asset or assets within a trust controlled by a trustee. This trust account pays out a certain amount as income to a designated beneficiary. Once the grantor passes on, the remaining assets are given to a charity of choice. What Are the Benefits of a CRAT? […]
What is a Settlement Fund (under IRC Sec 468B)? | IRS Definition of a Settlement Fund (under IRC Sec 468B)
19
Oct
2021
A settlement fund is a fund formed when an entity, generally a business, must pay out a settlement to a number of different individuals or entities. This often occurs during a class action suit, when a single company needs to pay out multiple people Forming a settlement fund makes the process of managing the settlement itself […]
A settlement fund is a fund formed when an entity, generally a business, must pay out a settlement to a number of different individuals or entities. This often occurs during a class action suit, when a single company needs to pay out multiple people Forming a settlement fund makes the process of managing the settlement itself […]