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Can an S Corp own 100% of an S Corp?
The answer to the question of “can an S corp own an S corp?” is yes, but it must own 100 percent of the shares of that S corp’s stock and treat it as a su...
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Global News
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What happens if you get a stimulus check last year?
If you got a payment last year, it won’t reduce your tax refund or increase what you owe when you file your 2020 tax return this year. The payment also do...
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How long will I be waiting for my tax refund?
Tax refund process Delivery type Delivery time (date filed – receipt of tax refund) E-file with direct deposit 1-3 weeks Paper file with direct deposit 3 ...
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Do you pay taxes on a backdoor Roth?
The main advantage of a backdoor Roth IRA—as with Roths in general—is that you pay taxes upfront on your contributions, and everything after that is tax-f...
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When can a trust use a fiscal year end?
An estate may use a fiscal year end of its choosing, not to exceed a one-year period after death. Example: A person dies Feb. 10, 2013—the estate can choo...
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What do I do if I receive a 1099 in error?
If there is a mistake, call the client immediately and request a corrected Form 1099. The client may not have filed the 1099 with the IRS yet, because the...
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What medical expenses qualify for a hardship withdrawal?
Unreimbursed medical expenses for you, your spouse, or dependents. Purchase of an employee’s principal residence. Payment of college tuition and related e...
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How do I get a copy of my property tax bill Winnipeg?
On May 14, 2020, Property tax bills were mailed to all property owners in the City of Winnipeg. Any property owner who did not receive a tax statement sho...
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Where is my form 2290?
Once your return is accepted by the IRS, your stamped Schedule 1 can be available within minutes. For more information on e-file, visit or visit What happ...
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Can a self employed person use per diem rates?
The per diem method can be used by employers, employees and self-employed individuals. Self-employed individuals and employees can only use the per diem m...
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