Dangers of Electronic Federal Tax Payment System (EFTPS)

June 30, 2024 No Comments

A: The Electronic Federal Tax Payment System (EFTPS) is a free tax payment service offered by the U.S. Department of the Treasury to help individual and business taxpayers pay their federal taxes electronically. To use the service, you must first enroll online by entering your

Dangers of Electronic Federal Tax Payment System (EFTPS)

July 7, 2024 No Comments

Do all taxes create deadweight loss?

June 30, 2024 No Comments

A: Taxes create deadweight loss because they prevent people from buying a product that costs more after taxing than it would before the tax was applied. Deadweight loss is the loss of something good economically that occurs because of the tax imposed. Tax on a

Do all taxes create deadweight loss?

July 7, 2024 No Comments

Do beneficiaries of a trust pay taxes?

June 30, 2024 No Comments

A: Beneficiaries of a trust typically pay taxes on distributions they receive from the trust’s income. However, they are not subject to taxes on distributions from the trust’s principal. When a trust makes a distribution, it deducts the income distributed on its own tax return

Do beneficiaries of a trust pay taxes?

July 7, 2024 No Comments

Do I pay capital gains taxes on a house that my company sells back to myself?

June 30, 2024 No Comments

The answer to this question really depends on the type of legal entity your business is operated through. Businesses may be operated as any of the following: Traditional “C” Corporation S Corporation Single-Member Limited Liability Company, taxed as a sole proprietorship Limited Liability Company with

Do I pay capital gains taxes on a house that my company sells back to myself?

July 7, 2024 No Comments

Do non-U.S. citizens living outside the U.S. pay taxes on money earned through a U.S. internet broker?

June 30, 2024 No Comments

A: The tax implications for a foreign investor will depend on whether that person is classified as a resident alien or a non-resident alien. To be considered a non-resident alien, a person must meet several guidelines. First of all, the person cannot have had a

Do non-U.S. citizens living outside the U.S. pay taxes on money earned through a U.S. internet broker?

July 7, 2024 No Comments

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