global news
How do I report rental income to an S Corp?
More In Forms and Instructions Partnerships and S corporations use Form 8825 to report income and deductible expenses from rental real estate activities, ...
Read Journal 
environment
When I put a CD in my computer nothing happens?
What’s most likely happened is that the “auto run” feature has been turned off – either on your system or on that specific drive. That means that by defin...
Read Journal
global news
What does final judgment of dissolution of marriage mean?
Final Judgment: You are divorced as the date indicated and free to marry again once that date passes. Interlocutory Judgment: You are still married. This ...
Read Journal
technology insights
Is a pension lump sum taxable?
You can usually take up to 25% of the amount built up in any pension as a tax-free lump sum. The tax-free lump sum doesn’t affect your Personal Allowance....
Read Journal
science
When do you have to file taxes after a divorce?
If your divorce is finalized on December 31st, then you have to file as a single person when you do your taxes. In order to make sure you’re paying the ri...
Read Journal
business
Is it mandatory for a partner to file income tax return?
Yes, it is mandatory for every partnership firm to file the return of income irrespective of amount of income or loss. Which ITR is filed for partner? ITR...
Read Journal
local updates
Can a dependent claim Lifetime Learning Credit?
The IRS treats the American Opportunity and Lifetime Learning tax credits similarly regarding whether a parent or dependent gets to claim them. But if you...
Read Journal
environment
Can you report someone for lying on their taxes?
Report Fraud, Waste and Abuse to Treasury Inspector General for Tax Administration (TIGTA), if you want to report, confidentially, misconduct, waste, frau...
Read Journal
business
What happens if you forgot to file a W-2 on your tax return 2019?
If you forget to file a W2, you will still receive a return. However, if your tax filing error will cause you to owe additional tax, you must file an amen...
Read Journal
environment
What are capital improvements to a property?
A capital improvement is the addition of a permanent structural change or the restoration of some aspect of a property that will either enhance the proper...
Read Journal