Taxation Archives - Monily


July 29, 2022
IRS One Time Forgiveness

What Is IRS One-Time Forgiveness?

For one reason or another, there is a chance you may get hit with an unexpected tax penalty. Taxpayers often get penalized for falling behind on […]
July 8, 2022
startup r&d tax credit

Startup R&D Tax Credit: What You Need To Know

R&D activities frequently occur in small and medium businesses that use innovation to create space and impact in the industry. More than 30 million small businesses […]
June 2, 2022

Decoding Qualified VS Nonqualified Dividends: What’s The Tax Difference?

A good investor must know the nitty-gritty of investments, such as the profit rates, market variation, and dividend types. As it goes, those who invest in […]
May 12, 2022

Seven Best Tax Tips to Maximize Tax Returns in 2022

It is hard to find people who love to file tax returns. Yet still, some don’t hate it as much as most of us. So, who […]
April 1, 2022

When Are Taxes Due? Tax Deadlines To Know in 2022

To tell the truth, it seems like there is never enough time to file returns. Even the COVID-19-affected deadline in 2021 came and went like a […]
January 25, 2022
tax benefits of s corp

Tax Benefits Of S-Corporation: How Does An S-Corp Save Taxes?

A corporation, be it a C-Corp or LLC, pays hefty taxes, not once but twice. First, the corporation’s income is taxed, and then the owners’ dividends. […]
August 27, 2021
tax liability

What Is Tax Liability And How To Calculate It

Benjamin Franklin once said, “in this world, nothing is certain except death and taxes.”. Whether you are employed, self-employed, or operate your own business, you will […]
August 20, 2021
how long to keep business tax records

How Long To Keep Business Tax Records And Receipts?

The basic rule of business management requires you to keep your financial statements ready at all times. It allows you to keep tabs on your expenses, […]
July 15, 2021

Filing Business Back Tax Returns – A Complete Guide

Filing your tax returns as a small business owner for the first time is as exciting as it is overwhelming. You try your best to file […]