culture
Can you do a partnership return on TurboTax?
TurboTax has two products to serve business owners—TurboTax Home & Business is designed for sole proprietors and 1099 contractors, while TurboTax Busi...
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global news
Do you charge tax on oil?
The taxable selling price of the part should include the cost of the labor required to manufacture it. Lubricating products such as oil and grease. As a r...
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local updates
What makes you a nonresident alien?
An alien is any individual who is not a U.S. citizen or U.S. national. A nonresident alien is an alien who has not passed the green card test or the subst...
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business
Can multiple people own a single-member LLC?
There’s no limit to the number of members allowed. Members can be individuals, LLCs, or corporations. Members can be non-U.S. citizens. The company doesn’...
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culture
What does it mean if your stimulus check is not available?
If you get a “Payment Status Not Available” message, that means your 2019 tax return has not been processed yet or the IRS is still determining your eligi...
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culture
Are there any exceptions to the IRA withdrawal penalty?
However, the IRA withdrawal rules contain several exceptions to the penalty if you meet certain circumstances or spend the money on specific purchases. He...
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technology insights
What is ss-4 EIN?
More In Forms and Instructions Use Form SS-4 to apply for an employer identification number (EIN). An EIN is a 9-digit number (for example, 12-3456789) as...
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science
When did the IRS start accepting tax returns?
That’s not the case. The IRS started accepting returns January 27, 2020, and the first refunds were issued within 21 days (often within 10 to 14 days) of ...
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culture
Do you have to pay sales tax if you are a business?
Customers, not businesses, pay sales tax. However, business owners must collect, deposit, and report the sales tax. Businesses that need to collect sales ...
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local updates
What is the maximum family social security benefit for 2020?
@CharlesS487405 I don’t believe the max SS is related to what state you live in but rather is based on how much your earnings were over the years. So the ...
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