What happens if my PPP loan is forgiven?
If you find that you are ineligible for full or partial loan forgiveness you will need to pay back at least some of your PPP loan. If you apply for loan f...
Category: General
Do I need to amend my 1095-C tax return?
Do I need to amend my return? As long as you answered that you had health insurance all year, then no you do not have to file an amended return. If you ha...
Is my tax refund a wire transfer?
Federal income tax refunds can be wire-transferred directly to your bank account on a limited basis. Traditional wire transfers go from bank-to-bank, usin...
Can a W-2 employee write off home office?
W-2 employees may not be able to deduct home office expenses from their 2020 federal taxes, but those who pay taxes in Alabama, Arkansas, California, Hawa...
Is a child born out of live in relationship legitimate?
The Supreme Court in Vidyadhari v Sukhrana Bai passed a landmark judgement wherein the Court granted inheritance to the children born from the live in rel...
What is a private practice psychologist?
Private practice psychologists enjoy being their own boss and making their own schedule. They also have more autonomy in their practice, a luxury not affo...
Can small businesses expense inventory?
As a result, inventory is becoming a tax-beneficial purchase instead of a tax liability.” “The TCJA allows small businesses to treat inventory as ‘non-inc...
What is an EFT checking account?
Essentially, EFT (electronic fund transfer) is used to move money from one account to another. The transaction is completed electronically, and the two ac...
When is the deadline to file income tax return?
In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing income tax returns (ITR) for FY 2020...
When to file Form 966 for corporate dissolution?
(1) Within 30 days after the adoption by the corporation of a resolution or plan for the dissolution of the corporation or for the liquidation of the whol...
