When do single owner LLCs file a Schedule K-1?
Single-owner LLC’s don’t use a Schedule K-1 to report the business income; they use a Schedule C-Profit or Loss from Business. 2 Partners and shareholde...
Category: Updates
Do tax credits reduce tax liability?
Tax credits directly reduce the amount of tax you owe, giving you a dollar-for-dollar reduction of your tax liability. A tax credit valued at $1,000, for ...
Why is my 2016 AGI rejected by the IRS?
If you have correctly entered the 2016 AGI as shown on the 2016 tax return that was filed and accepted by the IRS and your 2017 tax return continues to be...
How do I cancel a hotel without being charged?
Call the hotel where you have reservations as soon as you know you need to cancel (it obviously has to be before you are required to check in). Give the c...
What do you need to know about a 1099-S?
A form 1099-S is a tax document used to ensure that the full amount received for a real estate sale of some kind is accurately reported. When real estate ...
When did 2019 tax start?
This article is more than 2 years old. The Internal Revenue Service (IRS) has announced that tax season will open on Monday, January 28, 2019. The IRS wil...
Does 1099 affect W-2?
Form W-2 employees can use their income tax withholdings to cover any tax due on their earnings as independent contractors. If your withholding is not ade...
Can you depreciate a second home on an annual basis?
With an investment property, Weinstein points out that you can deduct depreciation on an annual basis, but you can’t depreciate a second home if it’s only...
Can you get tax forms at local IRS office?
A) Yes, you may visit a local IRS office or a post office or library that carries tax forms. You may also use computers that are often available for use i...
How is curiosity used in sales?
After successfully identifying the information a potential customer wants, use your knowledge of curiosity to ignite their interest, drawing them into a m...
