Transitioning from a sole proprietorship to a Limited Liability Company (LLC) with NewCorpSetup offers numerous benefits that can positively impact your business. Here are five key advantages: 1. Limited Liability Protection: One of the primary benefits of forming an LLC is the personal liability protection it offers. As a sole proprietor, your personal assets are […]
Category: Blog
Withholding Tax Law Changes in 2018
When Congress began debating possible tax law changes in late 2017, there was a lot of controversy and confusion about just how much individual taxpayers would benefit, and until now it has essentially been a guessing game. Now, however, individual taxpayers can get a more precise idea of our tax liability under the new Tax […]
2018 Tax Filing Deadline
The filing deadline to submit 2017 tax returns is Tuesday, April 17, 2018, rather than the traditional April 15 date. In 2018, April 15 falls on a Sunday, and this would usually move the filing deadline to the following Monday – April 16. However, Emancipation Day – a legal holiday in the District of Columbia […]
Business Owners Beware!
When it comes to forming your own business, there are so many steps that it can often times be a daunting task just to get everything you need. But know this, you can be scammed at every step of your business registration, and once you are registered, your information is public and the scammers are […]
Watch your inbox! A new tax scam could be hiding in your email
If you tend to ignore your work inbox because your email is already mounting, you may want to take a closer look to see if you’re getting scammed. The Internal Revenue Service announced last week a new scam that might be in your email inbox. “The scammer poses as an internal executive requesting employee Forms […]
Where’s your cash? Check on your tax refund with this handy tracker
The Internal Revenue Service has already started to issue tax refunds to those who have already filed, which means you can expect your check soon. If you’re a little bit on the impatient side, don’t worry. The IRS knows there are plenty of tax-filing Americans who are anxious to get their returns, whether in the […]
IRS releases worst tax scams in annual “Dirty Dozen” list
If you haven’t filed your taxes yet, it’s OK! You’ve still got time. But you may want to get yourself a bit more prepared than usual if you want to keep yourself safe from scammers this year. Now in its third year, the Internal Revenue Service has released their “Dirty Dozen” tax scam list, detailing […]
If you make less than this a year, you should try VITA
If you’re stressed about paying someone to help you get your taxes in order this year, don’t fret. You may not even have to pay them at all. The Volunteer Income Tax Assistance program from the Internal Revenue Service gives free tax help to those who earn less than $54,000 a year. It also gives […]
All your questions about same-sex marriage and tax filings: answered
If you’re having more questions than answers when it comes to how to file your taxes as a same-sex couple, the Internal Revenue Service is here to help. They’ve got an entire section on their website dedicated to all your tax-related same-sex marriage questions. Wondering if you can file jointly or separately? The IRS says […]
Mileage deductions for your 2017 taxes
If you’ve driven anywhere for work, you may have thought about how much money you can declare on your taxes for mileage. Last month, the Internal Revenue Service announced optional standard mileage rate deductions for the 2017 tax season. The deductions go far beyond work-related travels. The IRS notes that if you’ve been operating a […]