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...
Read Journal Category
Business
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 ...
Read Journal
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...
Read Journal
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...
Read Journal
business
Can I write off my new phone for taxes?
Your cellphone as a small business deduction If you’re self-employed and you use your cellphone for business, you can claim the business use of your phone...
Read Journal
business
Does 8606 need to be filed every year?
Basically, you must file Form 8606 for every year you contribute after-tax amounts (non-deductible contributions) to your traditional IRA. Conversions fro...
Read Journal
business
Do election workers receive a w2?
Government entities must file a Form W-2 for election workers who receive payments of $600 or more, even if no FICA and income tax were withheld. If an el...
Read Journal
business
Is W-2 post tax?
Box 2 reports the total amount of federal income taxes withheld from your pay during the year. This amount is determined by the elections on your form W-4...
Read Journal
business
What to do if you change your address on your tax return?
Important: If your address changes after you file your return, you should notify the post office that services your old address. This ensures that your ma...
Read Journal
business
How can I get bank records older than 7 years?
You need to contact the bank and ask. Banks do keep records typically going back 7 years, though bank policies vary.. Twenty years back would be unusual. ...
Read Journal