general
How do I claim capital cost allowance?
To calculate CCA, list all the additional depreciable property your business has bought this year. Then, determine how much of the purchase cost of each p...
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What is wholesale distributing?
By definition, wholesale distributors buy products from manufacturers or suppliers in large quantities and sell them at wholesale prices to customers, whi...
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How do I get past capital gains tax?
Five Ways to Minimize or Avoid Capital Gains Tax Invest for the long term. Take advantage of tax-deferred retirement plans. Use capital losses to offset g...
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Is cash included in asset sale?
Asset sales generally do not include purchasing the target’s cash, and the seller typically retains its long-term debt obligations. Such a sale is charact...
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Can I call EA support?
Support Contact Information USA: 1 (855) 345-2186 (Support available from 15.00 UTC – 00.00 UTC) UK: +44 (0) 208 1969 890 (Support available from 15.00 UT...
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Can you have a joint trading account?
A joint brokerage account is shared by two or more individuals. Joint brokerage accounts are most commonly held by spouses, but are also opened between fa...
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Where do I declare foreign interest income?
Generally, you report your foreign income where you normally report your U.S. income on your tax return. Earned income (wages) is reported on line 7 of Fo...
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Is a tax preparer the same as an accountant?
However, the most important takeaway here is that an accountant / CPA can probably help you file your taxes, while a tax preparer more than likely will no...
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Why is an LLC not good?
Profits subject to social security and medicare taxes. In some circumstances, owners of an LLC may end up paying more taxes than owners of a corporation. ...
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Does NC tax pension income from another state?
Income from a pension, 401(k), IRA or any other type of retirement account is all taxed at the North Carolina state income tax rate of 5.25%. Unlike many ...
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