education
Does the IRS get notified of a divorce?
How Does The IRS Know About Your Divorce? The IRS has the single greatest databank of personal information ever collected on American citizens. Divorce is...
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Education
education
Is a 1041 required if no income?
Form 1041 is not needed if there is less than $600 of gross income, there is no taxable income and there aren’t any nonresident alien beneficiaries. Can y...
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education
What is section 174 expenses?
Section 174 requires that R&E expenses be incurred “in connection with a trade or business” in order to be currently deductible. All that is required ...
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education
How can I see the last file I worked?
Recently Accessed Files Press “Windows-R.” Type “recent” into the run box and press “Enter” to open the list of recently visited files. View recently open...
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education
Are excise taxes part of sales tax?
Excise taxes are sales taxes that apply to particular products. Compared to income, property, and general sales taxes, excise taxes constitute a fairly sm...
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education
Why is the new W4 so confusing?
The revision is designed to reflect changes in the federal Tax Cuts and Jobs Act that took effect in 2018. Used correctly, it should lead to more accurate...
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education
Can I write my mileage off on my taxes?
For 2020 tax filings, the self-employed can claim a 57.5 cent deduction per business mile driven. In other words, all miles are deductible regardless of h...
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education
Can a spouse own a limited liability company?
If you or your spouse own a business or own a portion of a business it is possible that that business is classified as a Limited Liability Company (LLC). ...
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education
Is it wrong to convert a church into a house?
Unfortunately, it doesn’t work when you convert a church into a home. Some commercial uses may welcome the large open space of the original congregation w...
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education
Do lottery cards expire?
In short, yes, scratchcards can go out of date. All National Lottery scratchcards have an expiry date, which is different for each scratchcard. How far ba...
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