// current events
Who inherits a sole proprietorship?
The law says a sole proprietorship does not survive you. This means the company cannot keep operating under its original name, and the company cannot be i...
01 Mar 2026 0 views
Current Events
// current events
Is it better to pay off balance or make payments?
It’s better to pay off your credit card than to keep a balance. It’s best to pay a credit card balance in full because credit card companies charge intere...
01 Mar 2026 0 views
// current events
How can I fix my w4?
Change Your Withholding Complete a new Form W-4, Employee’s Withholding Allowance Certificate, and submit it to your employer. Complete a new Form W-4P, W...
01 Mar 2026 0 views
// current events
What are nondeductible contributions to IRAs?
Any money you contribute to a traditional IRA that you do not deduct on your tax return is a “nondeductible contribution.” You still must report these con...
01 Mar 2026 0 views
// current events
How does assessed value affect taxes?
The assessed value does not affect the property’s appraised value or fair market value; it only affects the tax bill. The taxable value is multiplied by t...
01 Mar 2026 0 views
// current events
Is it bad to use phone first thing in the morning?
Checking your phone immediately after waking up may not be a good way to start your day considering the fact that you’re being bombarded with new messages...
01 Mar 2026 0 views
// current events
Do you have to file Form 982 when debt is discharged?
When an individual has a debt that has been discharged, the amount that was discharged is generally treated as taxable income to the individual. Under cer...
01 Mar 2026 0 views
// current events
How does the IRS know if someone is deceased?
More In File Send the IRS a copy of the death certificate, this is used to flag the account to reflect that the person is deceased. The death certificate ...
01 Mar 2026 0 views
// current events
What happens to your 401k if you live abroad?
Under most circumstances, approved overseas withdrawals from a 401(k) or U.S. pensions are still taxed as income, albeit they’re treated as unearned incom...
01 Mar 2026 0 views
// current events
What are the reasons for posting adjusting journal entries?
The purpose of adjusting entries is to convert cash transactions into the accrual accounting method. Accrual accounting is based on the revenue recognitio...
01 Mar 2026 0 views