global affairs
What do newly married couples need to know about taxes?
Newly married couples must give their employers a new Form W-4, Employee’s Withholding Allowance within 10 days. If both spouses work, they may move into ...
Category: Global Affairs
global affairs
Is spousal support considered taxable income?
In California: If you receive alimony payments, you must report it as income on your California return. If you pay alimony to a former spouse/RDP, you’re ...
global affairs
How long does SBA loan take to hit bank account?
about five days FAQs About SBA Loan Approval Time How long does it take to get SBA loan funds after approval? In general, your SBA loan funds will hit you...
global affairs
What is my cost basis for gifted stock?
The cost basis of stock you received as a gift (“gifted stock”) is determined by the giver’s original cost basis and the fair market value (FMV) of the st...
global affairs
Is shipping taxable eCommerce?
In California, shipping is not taxable only if you charge your customer the exact rate it costs you to ship them the item. Also keep in mind that your sta...
global affairs
Can an amended return can be e filed if it is submitted before the due date of the original return?
Generally, you must file an amended return within three years from the date you filed your original return or within two years from the date you paid any ...
global affairs
Can You amend a Turbo Tax return in 2018?
Yes, with the 2018 TurboTax CD/Download software which is available at our past-years’ taxes page. TurboTax Online and the mobile app can no longer be use...
global affairs
Can you sell your house if you have a cosigner?
As a co-signer you get all the liabilities and none of the property rights. You do not have rights to sell the property when the primary borrower defaults...
global affairs
What does a corporate tax attorney do?
Corporations hire tax attorneys either on contract or as in-house counsel. Large companies may employ tax attorneys full time to get advise on the legalit...
global affairs
What is Schedule K-1 Box 17 code?
Line 17AC – Other Information – Box 17, Code AC are other items of information not found elsewhere on the Schedule K-1 (Form 1120S) Shareholder’s Share of...
global affairs
Which version of TurboTax do I need if I sold a home?
You’ll need TurboTax Premier Online to report capital gains from the sale of your primary home. (You may also use TurboTax Self-Employed or the TurboTax C...
global affairs
Can you go back and file 2018 taxes?
The IRS prefers that you file all back tax returns for years you have not yet filed. Unfortunately, there is a limit on how far back you can file a tax re...
global affairs
Can a third stimulus payment be used for the recovery rebate?
If you didn’t get the full amount of the first or second Economic Impact Payments, you may be eligible to claim the 2020 Recovery Rebate Credit and must f...