Getting the most out of your car can be difficult, especially with higher fuel costs. An MPG calculator can help you estimate your fuel consumption and your overall fuel costs, as well as your tax credits, insurance, and other fees. Besides using an online calculator, you can manually calculate the miles you have traveled or … Read more
The SF-86 Form is a security clearance form. It is a 127-page questionnaire that the government uses to figure out whether or not someone can be trusted. If you seek employment with the Federal Government, you must fill out an SF-86. This form is the standard for figuring out if someone can get a security … Read more
The SF-50 Form is a document that records changes in employment and pay. It also tracks the types of personnel actions that have taken place in your federal career. Keeping your SF-50 Forms up-to-date is important if you are a federal government employee. A missing SF-50 could cause your benefits to change. Also, a wrong … Read more
Expense reimbursement laws in California are governed by Labor Code Section 2802. This law requires employers to reimburse employees for all necessary work-related expenses. These expenses include mileage, tools, computer equipment, and office supplies. California’s definition of a “necessary and reasonable” expense varies, depending on the employee’s job duties and performance expectations. For example, an employer … Read more
Whether your nonprofit is involved in a campaign or not, you should understand the differences between 501(c)(4) and 501(c)(3). These differences are important to understand, as they can help you decide whether you should engage in political activity or not. You should also consider your nonprofit’s goals and objectives before deciding whether to engage in … Read more
The IRS defines net investment income as the sum of your interest income, dividends, rent, and royalties. This includes gains from the sale of investment real estate, interest, dividends, and other nonqualified annuity payments. The IRS also includes short-term capital gains and gains from the sale of an interest in an S corporation. There are … Read more
Whether you’re a business or a citizen, it’s important to know the FBAR deadline for because the next tax year is approaching fast. If you have yet to file a tax return for these years, you must know how to extend the filing deadline. Then you’ll be able to save time and avoid penalties. FBAR (FinCEN … Read more
The IRS makes tax adjustments for inflation every year, but in 2023, they are likely to be modest. The inflation adjustment will increase the value of some federal tax deductions and credits. Still, you may see a small change in your tax bill. Identifying which tax deductions and credits are affected by inflation can help … Read more
An Employer Identification Number, also known as a Federal Employer Identification Number or an Employer Tax Identification Number, is used to identify a business and to track its income and expenses. It is also used to track the ownership of a company’s assets. If you own a business, this number is crucial for tax purposes. The Employer Identification Number (EIN) is … Read more
If you are a student in an educational institution, you need to know how to fill out IRS Form 8863. This form asks for basic information about the student and the institution. The information on this form should be accurate to avoid penalties. However, there are a few things you must keep in mind. Here are … Read more