data and analysis
Is S Corp or Corp better?
If you’re looking for limited ownership, you’ll fare better with an S Corp. These setups are limited to 100 shareholders who are required to be U.S. citiz...
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news
How do I find out my first stimulus check?
Use the IRS Get My Payment tool to track stimulus money If the Get My Payment tool doesn’t give you information you can understand or says your check is o...
global affairs
Are 401k contributions taxable in Massachusetts?
All retirement plan contributions and distributions excluded from federal gross income are also excluded from Massachusetts income for the plans listed be...
education and learning
What do I do if I have two w2 forms?
If you receive multiple W-2 forms, add those amounts and include the total on your IRS Form 1040. In general, if you receive duplicate W-2 forms for the s...
data and analysis
Can you settle on private student loans?
Private student loan settlement depends on your lender. Some lenders might require you to pay at least 70 percent or 80 percent of your loan, while others...
news
Who are dual citizens of the United States?
Dual Nationality. Therefore, U.S. citizens are also U.S. nationals. Non-citizen nationality status refers only individuals who were born either in America...
civics and society
What is an alternative to wire transfer?
Alternatives to wire transfers Payment method International? PayPal Yes Transferwise Yes Remitly Yes Veem Yes Can you fake a wire transfer? Wire transfer ...
culture and society
What is needed to calculate depreciation?
Depreciation is calculated each year for tax purposes. The first-year depreciation calculation is: Cost of the asset – salvage value divided by years of u...
data and analysis
Does my babysitter have to file taxes?
According to the IRS, babysitters do need to report their income when filing their taxes if they earned $400 or more (net income) for their work. This inc...
science and technology
When to file Form 1040 for tax year 2014?
Form 1040 Department of the Treasury—Internal Revenue Service (99) U.S. Individual Income Tax Return . 2014. OMB No. 1545-0074. IRS Use Only—Do not write ...
news
Does 1040nr need to file FBAR?
The short answer to your question would be no, you do not need to file an FBAR form (for 2015), if you are a nonresident alien (foreign citizen) who lived...
science and technology
How do you know if an accountant is real?
Referrals are usually the best way to find a trustworthy accountant. Ask your friends, family members, and colleagues if they or anyone they know can reco...
science and technology
Is there a class action lawsuit against TurboTax?
The TurboTax lawsuit is filed on behalf of the people of California and says that the “abysmal participation rate” in the IRS Free File Program is partly ...