New S Corporation business owners often ask me how to get money out of their business account and into their personal banking account. Basically, there are four different ways to take money out of an S Corporation. In today’s post,…
If you’re planning an out-of-state move in the near future, don’t forget to move your S corporation along with you. The process is not typically complicated, but there are some items to consider, especially in regards to your taxes. In…
If you have lost your federal employer identification number, you can contact the IRS to request a copy of the EIN confirmation letter. To request a copy of the EIN Verification Letter (147C), complete the following steps: Call the IRS…
Once you’ve gone through the process of making your business an S corp, you are likely wondering how you get paid. You are, after all, your best employee, so let’s make sure you get this right. In this article, I…
Here are the steps you need to take to reach a real person on the phone at the Social Security Administration. Before you call, make sure you have all of the information that you need. - Social Security cards and…
Yes, the IRS will allow a P.O. box address on your tax return only if your post office doesn’t deliver mail to your home. The W-9 and W-4 instructions do not specifically state if a P.O. box is allowed, however, the 1040 (tax return) instructions state that a P.O. box is allowed if mail is not delivered to your home address.
The number of people permanently working remotely is on the rise. For many, this is the first time working from home has been an option, so how to file taxes while telecommuting is a hot question right now. I want…
Have you ever played a game with someone who made up the rules as you went? It’s frustrating and hard to develop any strategy! Well, that’s how I feel about the PPP loan. Less than a week after the PPP…
It has been estimated that the IRS has sent millions of deceased (former taxpayers) stimulus checks. So the big question is, can I keep the stimulus payment from a deceased relative? Unfortunately, no you can not. Stimulus checks issued to…
It is always a good practice to ensure your address on file with the IRS is up-to-date. Your mailing address is the ONLY way the IRS has to communicate with you. If they ever need to contact you (or send…
