science and technology
Is your accountant liable for mistakes?
The IRS doesn’t care if your accountant made a mistake. Even though you hired an accountant, you are liable to the IRS for any mistake. So, if the IRS adj...
Category: Science And Technology
science and technology
What can you write off with an S corp?
S-Corp Tax Deductions Ordinary business expenses such as rent, taxes, advertising, company-provided employee benefits, depreciation and interest can be su...
science and technology
How many death certificates do you need when a spouse dies?
The average needed ranges from 6-10 certificates. We recommend 10 copies. The deceased’s assets will dictate how many will be needed. The family will need...
science and technology
How much should I pay my employees for mileage?
58 cents per mile for business miles driven, up 3.5 cents from 2018. 20 cents per mile driven for medical or moving purposes, up 2 cents from 2018; and. 1...
science and technology
What is an 1120H tax return?
A homeowners association files Form 1120-H as its income tax return to take advantage of certain tax benefits. These benefits, in effect, allow the associ...
science and technology
What is par value for S Corp?
By Stephen Fishman, J.D. “Par value,” also called face value or nominal value, is the lowest legal price for which a corporation may sell its shares. It h...
science and technology
Do I have to file US taxes if I live abroad?
Do I still need to file a U.S. tax return? Yes, if you are a U.S. citizen or a resident alien living outside the United States, your worldwide income is s...
science and technology
Can corporations deduct vehicle mileage?
If an employee uses a personal vehicle for business, The employer typically reimburses the employee for the business mileage incurred at the standard mile...
science and technology
Can shareholders receive a 1099?
This is a case to file a 1099 for the shareholder. The shareholder will then pick up the income on the individual tax return as Schedule C income, subject...
science and technology
Do you pay capital gains on divorce settlement?
You do not usually have to pay Capital Gains Tax if you give, or otherwise ‘dispose of’, assets to your husband, wife or civil partner before you finalise...
science and technology
Can you withdraw rollover Roth?
A Roth 401(k) Rolled Into a Roth IRA Roth IRA contributions can be withdrawn at any time, tax-free and penalty-free, regardless of age. However, the rules...
science and technology
What is the stock symbol for McGraw Hill?
MHFI McGraw-Hill operates the Standard & Poor’s credit rating and J.D. Power and Associates marketing information services, among other financial offe...
science and technology
What is the deadline for corporate tax?
Companies have until April 15, 2021 to submit corporate tax returns for income received in 2020. Businesses may use Form 1120 or request a six-month exten...