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Can I claim my adult child in prison as a dependent?
Is an inmate considered a dependent? Unfortunately, an inmate is not considered a dependentㄧeven if they are your son or daughterㄧso you can’t claim the...
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When do I get my tax refund from the IRS?
After the tax return has been Accepted by the IRS (meaning only that they received the return) it will be in the Processing mode until the tax refund has ...
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How do I get a copy of a 990 tax return?
If an organization wants a complete copy of its Form 990 (one that includes donor information), it can file Form 4506, Request for Copy of Tax Return. The...
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When did I receive a letter from the IRS?
However received a letter from IRS about unreported income. I sold on Amazon back in 2017 and there is a … read more AARP already filed our taxes for 2018...
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How much does software cost for a small business?
Software programs for small businesses vary in their functions, features, and capabilities. They also vary in price. There are some free small business so...
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What are considered payroll costs for PPP loan forgiveness?
A: Employee gross pay (salary, wage, commission, bonuses, tips, or similar compensation) can only be forgiven for employee earnings up to $100,000 on a pr...
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What if I dont want inherited property?
You could simply do nothing with real estate you inherit that you don’t want. If you don’t pay the property taxes, the city or county taxing authority cou...
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Is a gift between spouses taxable?
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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How do you record a liquidating distribution?
Understanding Cash Liquidation Distribution Often, proceeds from cash liquidation distributions are reported on Form 1099-DIV. The IRS mandates in section...
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What is the standard deduction for car mileage?
For tax year 2020, the Standard Mileage rate is 57.5 cents/mile. Carrying through the example above: 5,000 business miles x $0.575 standard rate = $2,875 ...
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