media and communication
What does a CP2000 letter from the IRS mean?
The letter is called an IRS Notice CP2000, and it gives detailed information about issues the IRS identified and provides steps taxpayers should take to r...
Category: Media And Communication
media and communication
Does it make sense to have 2 savings accounts?
Having multiple savings accounts for each of your savings goals is a good idea regardless of current interest rates, Kulak says. Can you pay taxes from tw...
media and communication
Is W-2 post tax?
Box 2 reports the total amount of federal income taxes withheld from your pay during the year. This amount is determined by the elections on your form W-4...
media and communication
Can I write off my new phone for taxes?
Your cellphone as a small business deduction If you’re self-employed and you use your cellphone for business, you can claim the business use of your phone...
media and communication
How long can you work under L-1 visa?
In either case, it is the employer (“petitioning employer”) that submits the visa application. For both L1-A and L1-B, the employee must have worked for t...
media and communication
When should you consider an LLC?
If you have business partners or employees, an LLC protects you from personal liability for your co-owners’ or employees’ actions. An LLC gives you a stru...
media and communication
Are partnership withdrawals taxable?
Generally, there are no tax consequences of a current property distribution — there is never a taxable gain or loss, either to the partnership or to the p...
media and communication
Will a bank forgive overdraft fees?
“Most financial institutions will refund the fee – as long as it is not a normal occurrence. We all make mistakes.” That said, it’s not a guarantee. To ge...
media and communication
Will I get a bigger refund with the new standard deduction?
Although more taxpayers will claim the standard deduction as a result of the changes, and the standard deduction will help lower your taxes, you may find ...
media and communication
What does the IRS consider a partnership?
A partnership is the relationship between two or more people to do trade or business. Each person contributes money, property, labor or skill, and shares ...
media and communication
Where do I enter penalties on 1120?
Any penalty calculated flows to line 34 (Line 33 in Drake17 and prior) of the 1120 return. What information returns Penalty? We may assess a penalty if yo...
media and communication
When is a person disabled due to a medical condition?
A person is disabled under the Act if they can’t work due to a severe medical condition that has lasted, or is expected to last, at least one year or resu...
media and communication
Can a teenager choose their guardian?
It’s legal to choose a different guardian for each child. You can even create more than one guardian for one child, though this has the potential to creat...