news
Can a judge force you to sell your house?
The law doesn’t give owners of real property absolute protection against being forced to sell or otherwise dispose of their properties when they incur jud...
Latest Headlines
data and analysis
Can 1098-T be corrected?
You will need to generate two 1098-T’s: The first will be marked Corrected. It must include the incorrect SSN. * It must also include zeroes in place of a...
culture and society
Is check number part of account number?
At the bottom of a check, you will see three groups of numbers. The first group is your routing number, the second is your account number and the third is...
health and wellbeing
Can you sell RSU immediately?
In most scenarios when your RSUs vest you can sell them immediately and there is almost no tax impact. However, if the stock reverts to the original IPO/V...
science and technology
Does car loan interest accrue daily?
Nowadays, most car loans use simple interest. This means interest accrues daily based on the principal. It’s also virtually unheard of to have an auto loa...
culture and society
How do you formally close an LLC?
To close an LLC completely, you need to file a final tax return with the state and the IRS. Make sure you check the box to show this is the final return f...
health and wellbeing
When to use a 1099-MISC form for self employment?
Long answer: This lie has an understandable origin. The most common use of the 1099-MISC form is a business letting a contractor know how much he received...
data and analysis
What to do when a debt is canceled due to insolvency?
Lenders will typically issue a Form 1099-C to you when they cancel a debt. In order to show that some or all of the canceled debt is not taxable due to in...
science and technology
What is a single member corporation?
A single-member S Corp is a single-member LLC that has chosen to be treated as an S Corporation for tax purposes. A single-member S Corp is a single-membe...
media and communication
Do you have to ask questions to get tax deductions?
Many business owners make spending decisions with the hopes that it will be deducted, and yet neglect to ask the question first! According to the IRS, any...
culture and society
Which is the most difficult question on the CPA exam?
Deferred tax is one of the most difficult concepts on the CPA exam. Consequently, you need to think carefully about these questions. Deferred taxes can ar...
health and wellbeing
Do pastors have to get paid?
Most pastors are paid an annual salary by their church. According to the Bureau of Labor Statistics, in 2016 the average salary was $45,740 annually, or $...
health and wellbeing
Who is responsible for taxes after a divorce?
Choosing to file a joint income tax return with your former spouse means that you’re both jointly and individually responsible for paying all back taxes, ...