Do beneficiaries of a trust pay taxes?
Beneficiaries of a trust typically pay taxes on distributions they receive from the trust’s income. However, they are not subject to taxes on distributions from the trust’s principal. When a trust makes a distribution, it deducts the income distributed on its own tax return and issues the beneficiary a tax form called a K-1. The […]
Main Reasons Why Restaurant Clients Must Navigate Accounting Software
Running a restaurant presents a unique set of accounting challenges for many managers and owners. Issues such as transient staff, high transaction volume and theft are key concerns for restaurant owners, and having a robust system in place to handle these situations can go a long way. From general purpose accounting software to restaurant-specific accounting […]
