Call: 1-818-310-6107 | Email: info@smartservicesla.org

Follow Us:

Author: admin

The Internal Revenue Service said Tuesday it is giving special relief to support leave-based donation programs as a way of assisting victims of Hurricane Harvey.   The programs are similar to ones offered by the IRS in the aftermath of Hurricane Katrina in 2005, Hurricane Sandy in 2012, the Ebola outbreak in West Africa in 2014, and Hurricane Matthew and severe flooding in Louisiana in 2016.   Under such...

Read More

  While idly shopping for a home may be pleasant, serious homebuyers need to start the process in a lender's office, not an open house. Potential buyers benefit in several ways by consulting with a lender and obtaining a pre-approval letter. First, they have an opportunity to discuss loan options and budgeting with the lender. Second, the lender will check on their credit and alert the...

Read More

What is 'Schedule K-1'?   Schedule K-1 is a tax document used to report the incomes, losses and dividends of a partnership. The Schedule K-1 document is prepared for each individual partner and is included with the partner’s personal tax return. An S corporation reports activity on Form 1120S, while a partnership reports transactions on Form 1065.     BREAKING DOWN 'Schedule K-1'   While not filed with an individual partner’s tax...

Read More

  When planning for your retirement, you may focus on trying to figure out how much income you'll need, where that income will come from, how the stock market will affect your investments, what your expenses will be during retirement and whether they will change over time. But one aspect of retirement savings that you may have forgotten could end up costing you plenty. The effect...

Read More

The Fourth of July has long been a day when foreigners swear their oath of allegiance to the United States to become citizens. It is an annual reminder that the U.S. has been a nation of immigrants since its founding 241 years ago.   That tradition will continue this holiday period, when nearly 15,000 people will be sworn in as U.S. citizens at dozens of naturalization ceremonies, from...

Read More

Today, Wednesday  28, Trump will use the bully pulpit to rally support for tough immigration legislation, a day after he was forced to watch the Senate pull the plug on a healthcare reform bill that Trump has sought since his election.   Trump will meet at the White House with victims of crimes committed by illegal immigrants, in a bid to boost two bills that the House...

Read More

The Supreme Court’s decision to allow portions of President Trump’s travel ban to take effect is a win for the administration — but the impact will be far less severe than Trump’s first iteration of the measure.   That is because the high court effectively allowed Trump to ban from coming to the United States only citizens of six majority-Muslim countries “who lack any bona fide relationship...

Read More

  A number of companies are warming up to President Donald Trump's proposal of a 20 percent border tax, which he claims is going to spur companies to build items in America and hire U.S. workers. The proposal has pitted consumer-facing companies like Target (TGT), Walmart (WMT) and Best Buy (BBY) -- and more than 100 others -- against domestic heavyweights like Boeing (BA), Caterpillar (CAT),...

Read More

If the Trump administration's America First budget plan for 2018 ever gets approved as proposed, anyone claiming the Earned Income Tax Credit (EITC) or the Child Tax Credit (CTC) would face a new requirement: They must have a Social Security number and be legally authorized to work in the U.S.   Critics howl that this would deny refundable tax credits to low-income immigrants.   But U.S. citizens and legally...

Read More

The Internal Revenue Service has many free products available for small businesses to help them understand and comply with the law. Products ranging from online calculators, printable calendars, step-by-step guides and a series of educational webinars are all available on IRS.gov.   Federal law requires most employers to withhold federal taxes from their employees' wages. IRS tools can help small businesses understand some of the requirements for withholding, reporting,...

Read More