education
Can partnership distributions be disproportionate?
A disproportionate distribution occurs when a partnership makes a distribution of cash or property to a partner and that distribution increases or decreas...
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Education
education
What are tax attributes on Form 982?
Tax attribute refers to certain losses, tax credits, and the adjusted basis of property that must be reduced because of the exclusion of debt cancellation...
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education
Do you pay sales tax when selling a product to a store?
This applies to all goods used in the line of business that aren’t purchased for resale, such as computers, tools and equipment, office supplies, furnitur...
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education
What is the gift tax exclusion for married filing jointly?
The annual exclusion also is per person, which means that if you’re married, you and your spouse could give away a combined $30,000 a year to whomever wit...
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education
How do I change my tax year?
To request a ruling to adopt, change, or retain a tax year, file Form 1128 by the due date (not including extensions) of the federal income tax return for...
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education
When would you use a general partnership?
A general partnership is an unincorporated business, which means that you don’t need to register your business with the state in order to legally operate....
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education
What causes a B12 deficiency in older adults?
Common risk factors for low vitamin B12 levels in older adults include: Low levels of stomach acid. This can be due to weakening of the stomach lining, or...
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education
Can you open previous tax returns in TurboTax?
If you used TurboTax to file your tax returns, you can open and print previous tax returns for no charge. The process of accessing old tax returns differs...
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education
Can I claim my children for the Earned Income Credit EIC but not as dependents so my ex spouse can claim them as dependents?
Your child must meet the age, relationship, and residency tests (see below). Your qualifying child cannot be used by more than one person to claim the EIC...
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education
How do I keep books for my small business?
13 Accounting Tips for Small Businesses to Keep the Books Balanced Pay Close Attention to Receivables. Keep a Pulse on Your Cash Flow. Log Expense Receipt...
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