business
Are S Corp distributions taxed as capital gains?
S corporations, in general, do not make dividend distributions. They do make tax-free non-dividend distributions unless the distribution exceeds the share...
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business
Are payroll taxes paid quarterly?
The general rule for income taxes is that each state requires employers to file a quarterly tax and wage report on or before the last day of the month fol...
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business
How can I reverse my ITC?
It is known as an Input tax credit (ITC). If the input tax credit is wrongly claimed, then it should be reversed by making payment to that extent next mon...
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business
How do I cash a check from US Treasury?
Cash at the Bank If you have a bank account, you can cash your treasury check by visiting your bank and either depositing all or a portion of the check in...
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business
How do I file 8868 electronically?
How to file Form 8868 Electronically? Step 1 : Enter organization details such as Name, EIN. Step 2 : Choose the IRS form to extend. Step 3 : Choose the o...
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business
Can a Form 8962 be combined with Form 1095-A?
If individuals in your family were enrolled in Marketplace health plans in different states during the tax year, because the SLCSP is different in each st...
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business
How are nonresidents taxed in the state of California?
In contrast, nonresidents are only taxed by California on “California-source” income; that is, income generated in California. If a nonresident has no Cal...
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business
What happens to the 1099 income after death?
This doesn’t make the 1099 invalid, it just makes more work for the executor. As discussed in the article Track the Estate Income, the executor will have ...
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business
What is 401a in Box 14?
A 401(a) is a retirement plan offered to key employees by a government employer. This money is contributed by the employer and is not counted as income to...
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business
What types of questions do children ask?
These are some of the most common questions kids have: Why does it rain? Why does our neighbor look different? Where do babies come from? Why does it snow...
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