G.I. Tax Blog

Members of the United States military put their lives on the line to protect our freedoms, so it should come as no surprise that they are eligible for special benefits not available to civilians. Many brick and mortar businesses offer a discount to veterans, but new changes will soon also allow veterans to save money while shopping online.

What are the benefits of filing for an LLC or corporation as opposed to filing as a sole proprietorship on schedule C?

This is a very interesting question. There are many reasons why a self-employed person should consider forming an entity for conducting their business as opposed to operating as a sole proprietorship and only one reason why they should not!

Reasons for forming and filing as an entity (LLC, C-Corp, and S-Corp.):

Can I file head of household if I have a child and I am separated from my spouse, not yet divorced, or do I have to file Married Filing Separate (which is the worst way to file)?

If your dependent child lives with you and you have not lived with your spouse for more than six months you can file as head of household. Please be aware that you must meet the following five tests as per IRS regulations: