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Here’s a question: Does a member of a limited liability company (LLC) or a partner in a partnership have to pay self-employment taxes (Social Security and Medicare tax) on the member’s or partner’s share of the entity’s income? Incredibly, the

You intend to launch your own commercial enterprise. How does that feel? One of a person’s most significant life events occurs at this time. A dream has come true. Now that you are beginning to generate money in your first

Have you ever submitted an online tax return to the IRS only to have your efforts rejected?  Has the IRS ever claimed that someone else with your identity and Social Security number had already filed a tax return? If so,

2021 was a significant year for cryptocurrencies. Over the previous 12 months, more than half of active Bitcoin investors began investing. Throughout the year, the cryptocurrency market experienced all-time highs and lows, resulting in significant profits and losses for many

Property is one of the best investments there is in the marketplace. But there are problems to keep in mind, especially taxes.  Taxes can be a pain in the ass. But do not worry, we’ve got you covered! In this

Imagine giving someone a simple gift. This act alone would make you feel good. But what if you received something in return? Now that’s even better! Now picture this out, what if by engaging in charitable works you could reduce

A partnership is similar to a marriage in that selecting a partner takes much thinking. How can you tell whether you and your prospective partner are a good match? One method to assist resolve future problems is to have a

Put extra money in your pocket by stretching your bucks. Health Savings Accounts allow you to save more money, spend wisely, and invest in your healthcare. You may choose from a variety of mutual fund alternatives to provide your account

Imagine a scenario where your Schedule C firm purchases a beachfront property, utilizes it exclusively for business purposes, pays off the mortgage, and deducts all costs. Then, say, ten years down the road, you may start utilizing the beach as