data and analysis
What do you need to know before buying a rental property?
Buying a rental property can provide a stable source of income, but like any investment, you need to understand what you are getting into before you buy. ...
Category: Data And Analysis
data and analysis
Is interest on a life insurance loan deductible?
Loan proceeds are not considered taxable income, but you generally can’t deduct interest you pay on a life insurance policy loan from your taxable income....
data and analysis
Do I have to file form 8453?
Form 8453 is required to be filled out and mailed to the IRS when one or more of the forms below are included in an e-filed return. (See below for the mai...
data and analysis
How do you properly answer a question?
How To Successfully Respond To A Question You Really Don’t Want To Answer Make Sure You Understand The Question. Take Time To Respond. Answer Part Of The ...
data and analysis
At what point can medical expenses be deducted?
For tax returns filed in 2021, taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their 2020 adjusted gross income. ...
data and analysis
What is the minimum income to report on taxes?
The minimum income amount depends on your filing status and age. In 2020, for example, the minimum for single filing status if under age 65 is $12,400. If...
data and analysis
Can a taxpayer prove that they filed a tax return?
Sometimes taxpayers and the IRS just disagree on whether the taxpayer filed a return. The taxpayer faces a daunting task to prove the filing of a return. ...
data and analysis
Do you have to report a 1099-s?
If you do receive Form 1099-S, you must report the sale of your home on your tax return, even if you do not have to pay tax on any gain. Does 1099-S go on...
data and analysis
Are independent contractors eligible for stimulus check?
If you are an independent contractor or self-employed, you may be eligible for Paycheck Protection Program (PPP) loans/grants, SBA’s Economic Injury Disas...
data and analysis
What is a close corporation business?
In essence, a close corporation is a corporation whose shareholders and directors are entitled to operate much like a partnership. Typically, shareholders...
data and analysis
Why do church members leave?
Sometimes faithful members leave the church rather suddenly without any signs. However, sometimes members take a long time before they leave because they ...
data and analysis
What to do if your AGI is wrong on your 2018 tax return?
If you filed electronically in 2018 and have verified the correct AGI from line 7 of your 2018 return (and are not entering a PIN) and still get rejected,...
data and analysis
How do you respond to well Questions?
Take a beat, watch your tone, and other techniques to deal with a challenging line of questioning. Make Sure You Understand The Question. Take Time To Res...