arts
What is the duration of a LLC?
If the owner choose “perpetual” duration, the LLC may last indefinitely – forever, as the term suggests. For an LLC that is slated to last more than one y...
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technology insights
Is a full time student a qualifying child?
To be a qualifying child under Sec. To be considered a full-time student, the child must be enrolled for the number of hours or courses the school conside...
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technology insights
Does Arizona tax income earned in other states?
Please note: An Arizona full-year resident is subject to tax on all income, including earnings from another state. Nonresidents may also exclude income Ar...
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environment
Can I use TurboTax as a tax preparer?
TurboTax is only licensed for personal use. Both the license agreement and IRS regulations prohibit TurboTax to be used by paid preparers. Intuit offers P...
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environment
Are medical expenses deductible on Form 1041?
Yes, except for medical and funeral expenses, which you do not deduct on Form 1041. Medical expenses of the decedent paid by the estate may be deductible ...
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science
What tax documents do I need to send my accountant?
You should bring your accountant any documents pertaining to a recent home purchase, proof of paid mortgage or home equity loan interest, or proof of paid...
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local updates
Can you deduct roof repairs on rental property?
Ongoing repairs that relate directly to wear and tear or other damage that happened as a result of you renting out the property can be claimed in full in ...
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local updates
Can you claim dependents on a dual status return?
As a dual-status taxpayer, you may be able to claim a dependent on your tax return. You may be entitled to claim additional deductions and credits if you ...
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health
When to file income tax if you owe from prior year?
You may e-file your taxes in February but schedule your tax payment to be paid on the April 15 deadline. Electronic file providers often display the total...
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health
How to split rental income on a jointly owned property?
a couple do not have to opt for a different split. A couple could accept the standard 50/50 split for jointly held property, even if one spouse or civil p...
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