science
Can someone on Social Security contribute to an IRA?
Congress also authorized a new type of IRA, called a Roth IRA, that offers different types of tax advantages. You can open and contribute to the account e...
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education
How can I get a free tax ID number online?
Apply Online at The Internet EIN application is the preferred method for customers to apply for and obtain an EIN. Once your application is completed, the...
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technology insights
Do hardship withdrawals avoid 10 penalty?
Hardship Withdrawals from IRAs The IRS will waive the 10% penalty for IRA withdrawals made before age 59½ that are prompted by medically related hardship....
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technology insights
Can a state garnish an income tax refund?
Before any other federal or state agency can garnish your tax refund, you must be current on your federal income tax payments. This is because the outstan...
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local updates
Do you get a W-2 form if you are retired?
Like the W-2 you receive when you’re employed, retirees have their own version of income reported to the IRS. This is a tax form called a 1099-R. Also lik...
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environment
What box on W-2 shows charitable donations?
Box 14 If you itemize deductions, you will be able to use the amount in Box 14 as a charitable deduction. Depending on the code you enter, the program may...
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education
Is indexation allowed on Stcg?
So, indexation applies only to assets held for long-term. Are all assets held for less than 36 months short term and those held for more than 36 months lo...
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education
What is reported on an estate tax return?
The executor of the estate is responsible for filing a Form 1041 for the estate. The return is filed under the name and taxpayer identification number (TI...
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science
How do I find out who owns a property in Sacramento County?
To obtain secured ownership information contact us by email at [email protected], or call (916) 875-0700. Phone hours are 8 a.m. to 4 p.m. We will lo...
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business
Are Insurance Agents 1099 employees?
All the agents sign an agreement stating they are independent contractors rather than employees. All the agents file their taxes as independent contractor...
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