What are C-corp requirements?
A C Corporation must meet certain requirements: Hold an Annual General Meeting (AGM) for the shareholders and the board of directors. Issue shares to inve...
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Do S corp distributions have to be equal?
The distribution is based on the percentage of stock that each shareholder holds in the corporation. Because S-Corporations may only issue one kind of sto...
Can a company borrow loan from director?
A declaration will be submitted by the director with the Company, that the amount given by the director is not being given out the amount obtained by him ...
Are pensions passed on to spouses?
The federal pension law, the Employee Retirement Income Security Act (ERISA), requires private pension plans to provide benefits to surviving spouses. If ...
How much do you have to make to get HST credit?
A single person would receive the credit for July 2018 to June 2019 if their 2017 income was $44,000 or less. A married couple with 2 children would recei...
Can I change my bank account number with the IRS for stimulus check?
Your bank account information cannot be changed. The bank account information in Get My Payment came from one of the following sources: Your 2020 tax retu...
Are fiduciary fees deductible on 1041?
When preparing an estate or trust’s income tax Form 1041, you may deduct fiduciary fees. Fiduciary fees are the amounts executors, administrators, or trus...
Can I call the IRS for a client?
Contact an IRS customer service representative to correct any agency errors by calling 800-829-1040. Customer service representatives are available Monday...
Do you get taxed for not having Obamacare?
The federal tax penalty for not being enrolled in health insurance was eliminated in 2019 because of changes made by the Trump Administration. The prior t...
Is 42 000 a good salary for a single person?
You could save $200/month by not having a car payment and buying a cheap car. It is also possible to have cheaper car insurance, spend less on the persona...
