business
Is a Roth IRA a good way to save for college?
Many of the advantages that make a Roth IRA a great way to save for retirement make it an ideal way to save for college, too. Like the 529, there is no in...
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Business
business
What is included in NIIT?
In general, investment income includes, but is not limited to: interest, dividends, capital gains, rental and royalty income, non-qualified annuities, inc...
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business
What must be reported on Form 8971?
Executors file this form to report the final estate tax value of property distributed or to be distributed from the estate, if the estate tax return is fi...
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business
How long does an Efiled amended return take?
The IRS’s usual processing estimate of “up to 16 weeks” applies to both paper filed and e-filed amended returns. Of course, an e-filed amended return will...
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business
Is it dangerous to live in a house with mold?
The CDC, or the Centers for Disease Control and Prevention, warns about the dangers of living with mold in the home: Respiratory tract symptoms that inclu...
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business
How much tax do you pay on a 1099-R?
Funds distributed directly to the taxpayer are generally subject to a 20% federal income tax withholding. This means that the taxpayer must contribute add...
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business
What makes you a qualifying widower?
What Is a Qualified Widow or Widower? To be eligible for qualified widow(er) status, the survivor must remain unmarried for at least two years following t...
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business
Can you change the name of your S corporation?
If you own a corporation, (including an S corporation) you can change your name when you file your tax return (on Form 1120), or you can write to the IRS ...
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business
What is the sales tax rate in Durham NC?
In Durham and Orange counties, there is an additional 0.5% tax which is used to fund the Research Triangle Regional Public Transportation Authority. In su...
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business
Will I get a check if I used TurboTax?
Those without current direct deposit information on file will receive the payment as a check. We have confirmed with the IRS that they have the accurate b...
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