health
How do I report SEP-IRA contributions on 1040?
Plan contributions for a self-employed individual are deducted on Form 1040, Schedule 1 (on the line for self-employed SEP, SIMPLE, and qualified plans) a...
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health
Are business tax filing extended?
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...
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health
What causes a decrease in elevation?
In the earths atmosphere, pressure, which is related to the number of molecules per unit volume, decreases exponentially with altitude. Thus, if a parcel ...
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technology insights
Do you have to file a 1099 when selling real estate?
When real estate is sold, the seller is often subject to a capital gains tax. A 1099-S can also be used to report income made on rental property or invest...
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health
Where is bonus depreciation reported on Form 4562?
Bonus depreciation can be combined with the Section 179 deduction. As with the order of Form 4562, the Section 179 deduction is taken first, then bonus de...
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business
Can a US citizen live in the British Virgin Islands?
If you’re wondering how to move to the British Virgin Islands, it’s important to note that foreigners wishing to reside in the territory, even citizens of...
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technology insights
Are IRS payments Extended?
The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extend...
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education
Where do I send my 1040-x form?
If you are a taxpayer who lives in…. send Form 1040X and payments to … A foreign country, U.S.possession or territory*, or use an APO or FPO address, or f...
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technology insights
Can I just download TurboTax?
There’s no software to install and nothing you’ll need to save on your computer. We’ll store all of your information on our secure servers. TurboTax Onlin...
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health
Can you start a church without 501c3?
There have been court cases where donors to churches without 501c3 status have suffered unnecessarily. When donors are audited, they must be able to prove...
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