Traditionally, the Kiddie Tax taxed all “unearned income” a child made at the parent’s marginal tax rate. It was another way Uncle Sam created to take money from the more “affluent” Americans. Truthfully, the Kiddie Tax not only affected the well to do, but everyone who wanted
Adjusted Gross Income Adjusted gross income numbers are becoming even more important. Here’s another tip to help you understand the importance of lowering your adjusted gross income (AGI). In 2011, the Obama administration took away many people’s ability to make a traditional IRA contribution and have it
An LLC tax election is the decision you make to determine how your LLC is taxed. An LLC is a unique business structure called a limited liability company, but the IRS Code has not given the LLC a unique taxation section. So how is the LLC to
How you hold the title to your house to protect it from lawsuits makes a difference. I often have asset protection fanatics tell me that they have put their house title in a corporation or Limited Liability Company (LLC) for house protection. This is a big mistake.