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Can I still make a 529 contribution for 2019?
Contributions to a 529 plan are not tax deductible at the federal level, but over 30 states offer a state income tax deduction or credit for 529 plan cont...
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Global News
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How do you set yourself up as a 1099 contractor?
To set yourself up as a self-employed taxpayer with the IRS, you simply start paying estimated taxes (on Form 1040-ES, Estimated Tax for Individuals) and ...
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Can HELOC interest be deducted as investment interest?
Investment Interest If the debt is used to invest in tax-exempt investments, the HELOC interest will not be tax deductible. If you have investment income ...
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Can employer reimburse employee for COBRA premiums?
Employer reimbursement The employer pays full COBRA or state continuation premiums and administrative fees. The employee pays zero. If an employee provide...
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Can I claim a tax deduction for living away from home?
A LAFHA paid to you is income tax-free and should not be included as assessable income in your tax return. Conversely, you cannot claim a deduction for ex...
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Which bank has a Euro account?
Starling Bank Euro The Starling Bank Euro account is perfect for those who only need to bank in two currencies; those currencies being euros and pounds. C...
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What do you need to know about Form 990?
About Form 990, Return of Organization Exempt from Income Tax. Tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizati...
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How do I get an RFC number?
What are the required documents to get an RFC number? As an individual, you’ll need your CURP (see below) or birth certificate, proof of address, and offi...
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How do I create a payroll journal entry in Quickbooks?
Recording payroll transactions manually Select + New. Select Journal Entry. Under Date, select the paycheque(s) date. (Optional) Input Entry # for journal...
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Are professional fees an allowable expense?
A deduction can be claimed against profits for professional fees to the extent that they relate to revenue expenditure and are incurred wholly and exclusi...
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