How Far Back can the IRS Audit You: A very common question amongst taxpayers is: “How far back can the IRS audit me?” In other words, how long before a ta...

within five years The loan must be paid back within five years. If you leave the company before you fully repay the money, you may be required to pay the ...

Most refunds will be issued in less than 21 days. You can start checking the status of your refund within 24 hours after you have e-filed your return. Rem...

A semi-monthly payroll is processed twenty-four times a year. So to calculate the gross amount of your semi-monthly pay, divide your annual salary by 24. ...

Yes, you can deduct the mileage. As an independent contractor (received a 1099-MISC) you are considered self employed by the IRS. You can deduct the miles...

Generally speaking, if you held your shares for one year or less, then profits from the sale will be taxed as short-term capital gains. If you held your s...

You can stay in L-2 status only as long as your spouse continues to maintain L-1 status. You could apply to change your status to B-2 visitor. Can L2 visa...

Schedule K-1 will show you your self-employment earnings from the partnership or LLC you’re a member of. So you will need to pay self-employment tax on th...

Property in a trust generally earns income. Income retained by the trust–Generally, trusts are “pass-through entities.” This means that trust income retai...

Most people would say that charity is always good, but not everyone. Some argue that charity is sometimes carried out badly – or less well than it should ...