Glossary: Form K-1

By | January 12th, 2017|Categories: Glossary|Tags: |

Form K-1 is a reporting form issued by partnerships, S-Corporations, estates and trusts. Form K-1 reports an individual shareholder’s or beneficiary’s share of the entity’s income and deductions for the year.

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Glossary: C-Corporation

By | December 23rd, 2016|Categories: Glossary, Small Business Tax and Accounting|Tags: , |

A C-corporation is a tax term referring to one of two ways a corporation can be taxed.

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From the Archives: When Does the “1099s to Veterinarians” Rule Start?

By | November 25th, 2016|Categories: Glossary|Tags: , |

I've done a few posts on issuing 1099s to veterinarians, and all of those posts are popular. This one from September 2014 addresses the question of "when does the 1099s to veterinarians" rule start?

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Glossary: Payroll Taxes

By | November 1st, 2016|Categories: Glossary|Tags: , |

Payroll tax refers to taxes an employer pays when the employer has employees.

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Glossary: ROBS Transactions

By | October 28th, 2016|Categories: Glossary|Tags: , , |

In the tax world, the term "ROBS" stands for "Rollover for Business Startup." In a ROBS transaction, a person uses existing retirement account money to fund the startup of a new business, and if done right, the transaction is tax-free.

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