S-Corporation Election Deadline
I have always reminded my clients who are considering filing taxes as pass trough entity or S corporation to file their form 2553 by March 15. S-Corporations must file by this deadline to receive certain tax benefits. An S-Corporation is beneficial for someone starting a company who wishes to protect their own personal assets and wants to avoid the double taxation of a regular...
Read MoreImportant Tax Law Changes for 2010
Important Tax Law Changes for 2010 by Henry O. Aldana The past year congress passed several new tax laws that were intended to stimulated the economy. I am so not sure this laws made an impact on our economy, but what I I am convened is that all this regulations have made the IRS systems delay the filings of the return. Today was the first day, that most tax returns were accepted for...
Read MoreCheck your IRS refund status with your iPhone & Android!!
Valentines day is also pay day, The IRS will start acepting most income taxes on Monday February 14, 2011. IRS Launches the IRS2Go App for iPhone, Android; Taxpayers Can Check Refunds, Get Tax Information Wow!! Uncle Sam is getting sophisticated on us, as the new generations will only know how to use this smart phones, so will the IRS. By Henry Aldana WASHINGTON — The Internal...
Read MoreTaxable or Non-Taxable Income?
Every week during my radio show, I get lots of call asking about what is taxable and what is not. Generally, most income you receive is considered taxable but there are situations when certain types of income are partially taxed or not taxed at all. To help taxpayers understand the differences between taxable and non-taxable income, the Internal Revenue Service offers these common examples of...
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