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When is a self employed person not an independent contractor?
To find out what your tax obligations are, visit the Self-Employed Tax Center. You are not an independent contractor if you perform services that can be c...
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Can I file 8832 with tax return?
You can use Form 8832 to elect to be taxed as a C-Corp. If you want the LLC to be taxed as an S-Corp, see Form 2553. If your business is a corporation, th...
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Can my daughter file for stimulus check?
To be claimed as a dependent on your taxes, a qualifying child must be either younger than 19 years old, or a student younger than 24 years old at the end...
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Can you work in a factory at 18?
A youth 18 years or older may perform any job, whether hazardous or not. A youth 16 or 17 years old may perform any non-hazardous job. (See the list of ha...
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Do self-employed people get audited?
Audits can recover significant revenue but the self-employed tend to return to under-reporting within a few years. Audits have bigger long-run effects if ...
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Does VA benefits interfere with Social Security?
If you receive VA compensation, this will not affect your Social Security benefits. Does SSI count VA disability as income? SSA classifies VA benefits as ...
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How hard is it for grandparents to get custody of grandchildren?
Getting grandparent custody is extremely difficult in any situation, but it’s even more so when the child’s family is intact. The parents have the right t...
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Can an LLC have a retirement account?
An LLC is eligible to set up a SEP IRA for retirement savings. Rules regarding contributions can vary depending on whether the LLC is for a sole proprieto...
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Can grandparents get Child Tax Credit?
The child tax credit (CTC) of $1,000 may be available to grandparents as well and under specific circumstances could be refundable. The qualifying grandch...
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Do you have to file a joint tax return with your spouse?
You must file a joint income tax return for the year you make the choice (but you and your spouse can file joint or separate returns in later years). Each...
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Why do I not qualify for American opportunity credit?
The credit is reduced if a taxpayer’s modified adjusted gross income exceeds those amounts. A taxpayer whose modified adjusted gross income is greater tha...
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How do I get a damaged stimulus check replaced?
Fortunately, the IRS has a procedure to help. If your third-round stimulus payment is lost, stolen or destroyed, you can ask the IRS to perform a “payment...
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What happens after you get your LLC?
What is the next step after forming LLC? There are nine next steps after forming an LLC: create an operating agreement, get an EIN, register for taxes, ge...