Question of the Day

What are the benefits of filing for an LLC or corporation as opposed to filing as a sole proprietorship on schedule C?

This is a very interesting question. There are many reasons why a self-employed person should consider forming an entity for conducting their business as opposed to operating as a sole proprietorship and only one reason why they should not!

Reasons for forming and filing as an entity (LLC, C-Corp, and S-Corp.):

Question of the Day

Can I file head of household if I have a child and I am separated from my spouse, not yet divorced, or do I have to file Married Filing Separate (which is the worst way to file)?

If your dependent child lives with you and you have not lived with your spouse for more than six months you can file as head of household. Please be aware that you must meet the following five tests as per IRS regulations:

Financial Benefits During and After Military Service

Like many other Americans, members of the military face a variety of financial challenges during their lifetimes. Fortunately, their service is rewarded with special benefits, tax breaks and other legal protections that can alleviate financial concerns. Here are some of the financial benefits available to service members and their families throughout their lives.

Basic Pay and Allowances