Is an insurance agent considered self-employed?
Generally speaking, independent agents are classified as independent contractors when reporting taxes. Under this type of arrangement, the government cons...
When did I Rent my Home for 5 months?
Mine was my primary home for 2.5/5 yrs, rented 3 months in 2016, vacant for 5+ months, sold in Sept 2016. Are all utilities, insurance, taxes reported on ...
Do you have to file Form 1065 with IRS?
All partnerships in the United States must submit one IRS Form 1065. The IRS defines a “ partnership ” as any relationship existing between two or more pe...
How does a small business help with taxes?
Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to t...
Is there a difference in Social Security at age 70?
“For example, your monthly payment can be as much as 32 percent more starting at age 70 than what you would have collected at age 66.” Did You Know: The S...
When did our step mother die and the condo sold?
The family condo was purchased by them for $450,000 and then his father died in 1985. His step-mother lived in the condo until she died and it recently so...
Can my employer reject my annual leave?
Contrary to what is often believed, employers can refuse a request for annual leave. For example, many of your employees in the same team or department ma...
Do I need to fill out form 8283?
You must file one or more Forms 8283 if the amount of your deduction for each noncash contribution is more than $500. You must also file Form 8283 if you ...
How do you find out what your Social Security income will be?
How can I get a Social Security Statement that shows a record of my earnings and an estimate of my future benefits? You can get your personal Social Secur...
How is an S corporation formed?
A corporation becomes an S corporation by filing an S corporation election with the IRS. The election is made on IRS Form 2553, Election by a Small Busine...
