4 Ways to Withdraw Cash From a Corporation

4 Ways to Withdraw Cash From a Corporation

Owners of closely held corporations often want or need to withdraw cash from the business. The simplest way, of course, is to distribute the money as a dividend. However, a dividend distribution isn’t tax-efficient because it’s taxable to the owner to the extent of...
Is Disability Income Taxable?

Is Disability Income Taxable?

Many Americans receive disability income. If you’re one of them or know someone who is, you may wonder whether it’s taxable. As is often the case with tax questions, the answer is “it depends.” Key factor The key factor is who paid the disability income (or who...