data and analysis
Can a resident spouse file a joint tax return?
In some cases, the resident spouse may still want to file a joint return, in order to secure more favorable rates, or certain credits or deductions. Howev...
Category: Data And Analysis
data and analysis
When was the last time you had a divorce?
Most experts agree that a recent divorce is one that happened within the last year or two. Divorces, like men, come in all shapes, sizes, and situations. ...
data and analysis
How old was my dad when he passed away?
Love your dad before it’s too late. My father passed away on April 23, 2016, due to stage 4 lung carcinoma. It always so painful to think about it. He was...
data and analysis
What does it mean if your taxes say accessed?
It is a notification that a different device from the last time was used to access your account. What does it mean when TurboTax says your taxes were acce...
data and analysis
Does a LLC pay quarterly taxes?
No, the LLC does not have to file or pay quarterly taxes, but your wife as a self-employed individual will need to file an pay quarterly taxes. An LLC has...
data and analysis
How do you interview a bookkeeper position?
You can ask general, open-ended questions such as the following: “Tell me about yourself.” “Why did you apply for this bookkeeping position?” Why did you ...
data and analysis
How do you calculate depreciation on assets during the year?
Straight-Line Method Subtract the asset’s salvage value from its cost to determine the amount that can be depreciated. Divide this amount by the number of...
data and analysis
How do s Corps save on taxes?
Slash S-Corp Taxes for Good #1 Reduce Owner’s Wages. #2 Cover Owner’s Health Insurance Premiums. #3 Employ Your Child. #4 Sell Your Home to Your S-Corp. #...
data and analysis
Can you take a lump sum out of your pension?
Lump sums from your pension. You can usually take up to 25% of the amount built up in any pension as a tax-free lump sum. The tax-free lump sum doesn’t af...
data and analysis
What expenses can you claim for when self employed?
Costs you can claim as allowable expenses office costs, for example stationery or phone bills. travel costs, for example fuel, parking, train or bus fares...
data and analysis
Does TurboTax keep a copy of my tax return?
If you filed your taxes with a TurboTax CD/download product, your tax return is stored on your computer, so you can print a copy at any time. If you used ...
data and analysis
When must SIMPLE IRA contributions be made?
Contributions to SIMPLE IRA plans that are taken from an employee’s paycheck as a salary-reduction contribution are due within 30 days of the month in whi...
data and analysis
What do I need to include on my 1040 mail in?
Attach a copy of Forms W-2, W-2G and 2439 to the front of Form 1040. Also attach Forms 1099-R if tax was withheld. Use the coded envelope included with yo...