education and learning
What is classified business income?
Business income may include income received from the sale of products or services. For example, fees received by a person from the regular practice of a p...
Category: Education And Learning
education and learning
What do you need to know about stimulus payments?
Stimulus payments are available so long as your “adjusted gross income” per your tax return doesn’t exceed certain thresholds (the lower end or the ranges...
education and learning
Do you have to file income tax return for 2020?
As stated from the beginning, these payments are considered taxable income, and recipients must enter the total of the amounts they received last year on ...
education and learning
How long does a widow have to live in a house before selling it?
If the deceased spouse lived in the home for two years or more while the surviving spouse lived in it for less than two years, the IRS considers the time ...
education and learning
Do I need a new PTIN number every year?
A Preparer Tax Identification Number (PTIN) is a unique number issued by the IRS. As a paid preparer, you are required to have a PTIN, and it must be rene...
education and learning
When the IRS says 21 days does that include weekends?
The IRS has given guidelines this year that 90% of tax filers should receive their refund within 21 days of filing. The IRS works weekends during tax seas...
education and learning
Can Form 1042 be filed electronically?
The Form 1042-S can be filed electronically, or on paper. Withholding agents are required to file electronically if there are 250 or more Forms 1042-S. Fo...
education and learning
What is an HSA in simple terms?
A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. What disqualifies you from having an HSA...
education and learning
Is it a good idea to go back to school?
If you choose to go back to college, there will be an adjustment period and bumps along the way, but with a good support system you can make it a smooth r...
education and learning
Can you add past years to QuickBooks?
Yes, you can add them to QBO using the dates the entry happened. Tap the + New button and choose the appropriate type of transaction to record them. How d...
education and learning
What you should never say to your teenage daughter?
15 Things You Should Not Say to Your Teenage Daughter “You’re SO selfish!” All teens are self-absorbed. “Stop being so moody!” She can’t! “Drugs and alcoh...
education and learning
When to claim your child as a dependent on your tax return?
Updated April 23, 2020 Understandably, many parents get in the habit of claiming their children as dependents on their federal tax returns. While you may ...
education and learning
Why is the IRS saying my Social Security number is invalid?
Often, the information is no longer correct with Social Security Administration. IRS reconciles the name, social security number, and the date of birth wi...