How To File A Federal Unemployment Tax Return

Many employers are required to file a federal unemployment tax return. The federal tax is in addition to any state unemployment tax. Employers in some states may be required to pay a higher federal tax rate if their state has not fully repaid certain federal loans related to unemployment claims.…

When To Begin Depreciation Of New Business Assets

Machines and equipment are usually purchased by a business as needed, with only secondary concern for the tax consequences. Some assets cannot be deducted in a single year. Small business owners must begin to depreciate new depreciable assets based on when the assets are placed in service during the year.…

Income Tax Reporting For Homeowners Associations

A homeowners association is a taxable entity and must file an annual tax return with the IRS. Even though a return is required, much of the income is often exempt from taxation. Officers of homeowners associations may file an income tax form specifically intended for homeowners associations.…