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Can a taxpayer claim an elderly parent as a dependent?
If you choose to claim an exemption for your parent, you must also ensure that you are not an eligible dependent to another taxpayer. This restriction is ...
Category: News
news
Is CLEP for college students?
The College-Level Examination Program® (CLEP) helps you receive college credit for what you already know, for a fraction of the cost of a college course. ...
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How do I add a partner to my LLC in NC?
How Do I Add Another Owner to My LLC? Understand the Consequences. Review Your Operating Agreement. Decide on the Specifics. Prepare and Vote on an Amendm...
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What is reimbursement for childcare?
A dependent care reimbursement account allows employees to set aside some pretax income (up to $5,000 in 2014) for the express purpose of paying for depen...
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What to do if your employer gives you a 1099 instead of a W-2?
If you do not agree with this classification you can speak with your employer to request to be treated as an employee and given a W-2. If your employer re...
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Can you work in NY and work in CT?
You will want to work on your non-resident NY state tax return first. You will then take a tax credit from your non-resident NY return on your resident CT...
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What companies dont require 1099?
Business structures besides corporations — general partnerships, limited partnerships, limited liability companies and sole proprietorships — require Form...
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What do I do if I filed my taxes and forgot a W-2?
You will need to file an amended return. Making a mistake or unintentionally forgetting to report income or take a deduction isn’t the end of the world. I...
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Can a foreigner open a business in Malaysia?
Under the Company Commission of Malaysia (CCM), all foreigners only are allowed to register a private limited by shares (Sendirian Berhad- “Sdn Bhd”) comp...
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How much money can I contribute to a traditional IRA?
While anyone can contribute up to $6,000 (or $7,000 for individuals age 50 and older) to a traditional IRA, not everyone can deduct that full amount on th...
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How to calculate adjusted basis on sale of rental property?
Determining the adjusted basis of a rental property is important because you will need it to calculate your gain or loss on sale, which in turn affects yo...
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Can a husband and wife file separate tax returns?
Under the Income Tax Law both husband as well as the wife would be entitled to have their separate sources of income, separate funds of their own and so c...
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Can a professional corporation have multiple shareholders?
The professional incorporation legislation allows one or more members of the same profession to be shareholders in a professional corporation. How many sh...