culture
What is your payer federal ID number?
PAYER’S federal identification number is most likely your personal Social Security Number. It could be your Employer Identification Number, but if you are...
Read Journal 
health
Do LLCS get 1098?
To be eligible to claim the AOTC or LLC, the law requires a taxpayer (or a dependent) to have received Form 1098-T, Tuition Statement PDF, from an eligibl...
Read Journal
local updates
Can a SMLLC pay rent to a sch e LLC?
One SMLLC files a schedule C and the other a schedule E. The Sch C LLC pays a fair arms-length rent to the Sch E LLC. Since both have EINs, separate bank ...
Read Journal
science
Who qualifies for veteran exemption?
Many states offer exemptions solely for disabled veterans. California, for instance, allows qualified disabled veterans to receive a property tax exemptio...
Read Journal
science
Can your boyfriend claim your child as a dependent?
You can claim a boyfriend or girlfriend and their children as dependents if they are your qualifying relatives. they are not a qualifying child of another...
Read Journal
technology insights
What is an example of an exempt job?
The most common roles considered exempt include professional, executive, outside sales, and administrative. On the flip side, non-exempt employees must be...
Read Journal
business
What does your refund has been applied mean?
But what does it mean when, instead of your refund check, you get a notice informing you that the IRS applied your refund to unpaid taxes? This happens wh...
Read Journal
education
Where is retirement income reported?
You reported your income by attaching a Schedule C, Profit or Loss From Business (Sole Proprietor) and Schedule SE, Self-employment Tax to your Form 1040....
Read Journal
science
How do I report Global income on 1040?
Generally, you report your foreign income where you normally report your U.S. income on your tax return. Earned income (wages) is reported on line 7 of Fo...
Read Journal
culture
Will I get a 1099 for insurance MLR rebate?
For a cash rebate paid to an individual policyholder, Insurance Company is not required to file a Form 1099-MISC with respect to that payment or furnish a...
Read Journal