Move now to evaluate your filing options as: 1) a self-employed individual; 2) an S Corp; 3) a C Corp; or 4) an LLC Tom Wheelwright Published 10:00 am PDT, Tuesday, August 21, 2018 Photo: Alfexe | Getty Images Image 1of/1 CaptionClose Image 1 of 1 Photo: Alfexe | Getty Images How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity 1 / 1 Back to Gallery If you’re confused about what type of business entity to set up -- entrepreneur or contractor -- under the new Tax Cuts & Jobs Act of 2017, you’re not alone. Related: How to Pay Zero Taxes Legally in Retirement Whether you’re an Uber driver, tech startup founder or medical professional contractor, you'll find that the new tax law will significantly impact your 2018 returns. So, don’t … [Read more...] about How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity
S corp tax return
Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares. A POLITICO review of data disclosed in SEC filings shows the executives, who often receive most of their compensation in stock, have been profiting handsomely by selling shares since Trump signed the law on Dec. 22 and slashed corporate tax rates to 21 percent. That trend is likely to increase as Wall Street analysts expect buyback activity to accelerate in the coming weeks.Story Continued Below “It is going to be a parade of eye-popping numbers,” said Pat McGurn, the head of strategic research and analysis at Institutional Shareholder Services, a shareholder advisory firm. That could undercut the political messaging value of the tax cuts in the Republican campaign to maintain control of Congress in the midterm elections. … [Read more...] about ‘Eye-popping’ payouts for CEOs follow Trump’s tax cuts
Most people aren’t at a loss for ideas on how to spend a cash windfall. With bills to pay, savings accounts to fortify and even the most modest of vacations to plan, the dilemma is deciding what to drop from the list. The IRS reports that the average tax refund so far this year is close to $3,000 — not crazy, change-your-life-forever money, perhaps, but definitely in improve-your-financial-standing territory. How best to deploy those dollars? 1. If you’re paying double-digit interest on any debt The opportunity to wipe a high-interest debt from the books should be irresistible. Instead, using a refund to pay off a credit card balance feels far from a joyous event and more like a big financial killjoy. Nothing could be further from the truth. Paying off a $3,000 balance sitting on a credit card charging 15% interest amounts to $450 in savings. Guaranteed. A 15% guaranteed return is certainly an investment worth bragging about, which is why the advice to use an IRS … [Read more...] about 5 great ways to invest your tax refund
Mozilla last week announced that revenue in 2016 exceeded $500 million, the first time it broke the half-billion-dollar bar, while development costs climbed 6% as the organization worked up Firefox Quantum, the revamped browser it shipped in November.The bulk of the $520 million in revenue for the Mozilla Foundation came from royalty payments, with most of that coming, as usual, from deals struck for the default search engine spot in Firefox. Mozilla Foundation is the nonprofit that in turn runs Mozilla Corp., the commercial organization that creates and services Firefox for Windows, macOS, Linux, iOS and Android.According to Mozilla's just-released financial statement for 2016, $504 million, or 97% of all revenue, came from royalty payments. The percentage of revenue derived from royalties has never dipped below 91% - Mozilla's fortunes have always been tied to Firefox's search contracts - but 2016's portion was lower than the 99% record set in 2015.Search deals composed 94% of the … [Read more...] about Mozilla’s record 2016 revenue funded its Firefox Quantum browser
Welcome back to tax season, I’m Jeff Battersby and I’ll be your guide for all things related to filing your taxes online. This year we’re going to look at the usual suspects, TurboTax and H&R Block. We’ll also look at TaxAct Online (last year’s newcomer), and Tax Slayer (this year’s newcomer). When it comes to filing taxes the basics are essentially the same: You provide your financial information and the tax software uses an interview process to gather that information, minimize your tax liability, and, with some luck and good data, maximize your refund and reduce your stress level. All of these online services offer various try-before-you-buy options that let you fill out your forms and then pay when it’s time to file. It’s important to note that all these app also charge more money the closer you get to tax time. We’ve included some links to paid versions on Amazon, so before you buy anything, make sure you’re … [Read more...] about H&R Block, TaxAct, TaxSlayer, and TurboTax: Which tax program is right for you?