Personal Property – Primary Residence Capital Gains Exclusion: How Does This Work? The capital gains exclusion for the sale of a primary residence is a significant tax benefit available to homeowners in the United States. This exclusion allows taxpayers to exclude a...
W-2 Salary vs. Distributions vs. K-1 for S-Corp Owners As an S-Corporation (S-Corp) owner, understanding the distinctions between W-2 wages, distributions, and K-1 profits is essential for managing your tax obligations and business finances. In this article, we will...
The Impact of 2024 FLSA Changes on Workplaces Explained The Fair Labor Standards Act (FLSA) governs minimum wage, overtime pay, and working hours, ensuring that employees across the U.S. are treated fairly. In 2024, significant changes to the FLSA overtime rules will...
Mastering Tax Document Organization and Retention Maintaining proper tax records is crucial for both individuals and businesses. Not only does it ensure compliance with tax laws, but it also provides a safeguard in case of audits or disputes. This article will delve...
