health and wellbeing
Can a unmarried couple buy a home together?
If you’re in a committed relationship but nuptials are on the back burner, just know your dream of buying a home doesn’t have to be. In 2019, unmarried co...
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culture and society
How do you calculate year to date income?
Multiply your gross earnings per pay period times the number of pay periods leading up to a certain date to find your gross year-to-date earnings. For exa...
science and technology
What is the deadline for filing federal and state taxes?
The IRS pushed back the tax filing deadline by a month to May 17 instead of April 15 as the agency grapples with staffing issues and outdated systems at a...
health and wellbeing
Do independent contractors get benefits?
Independent contractors typically do not receive the same rights afforded to employees and are responsible for their own retirement plans, insurance and o...
culture and society
Can a spouse be a partner in a business?
Scenario B- The business earns $200,000 in net income. You and your spouse pay Social Security taxes up to $100,000 each if your spouse is also a member o...
global affairs
What is the difference between a 1031 and 1033 exchange?
Section 1033 is tax deferral specific to the loss of property by a taxpayer and is therefore is referred to as an involuntary conversion. Section 1031 is ...
health and wellbeing
What time will I get my tax refund direct deposit?
If you file your tax return electronically, the IRS will generaly process direct deposit refunds within 7-10 days of receiving your tax return, and proces...
science and technology
Are trading gains taxable?
If you sell stocks of a private or a close corporation, you will be subject to a capital gains tax of 15%. The 15% is imposed only on your gains. That mea...
culture and society
Can I notarize a document for my business?
Can an employee notarize documents for an employer? Yes. A notary public who will not benefit from the transaction in excess of his normal salary and bene...
news
Do I have to file a Schedule E?
If you earn rental income on a home or building you own, receive royalties or have income reported on a Schedule K-1 from a partnership or S corporation, ...
global affairs
How much federal tax do I owe on 65000?
If you make $65,000 a year living in the region of California, USA, you will be taxed $16,060. That means that your net pay will be $48,940 per year, or $...
culture and society
What taxes are included in a 941 deposit?
Calculating the Taxes – The federal income tax withheld and social security and Medicare taxes are added together on Form 941 and Form 944. The resulting ...
news
What can happen if the amount of tin is not correct?
In 2020, the IRS sent a Notice 972CG to the filer proposing a penalty for filing the 2018 information return with an incorrect TIN. The filer can show the...