global news
Can you own a business in Europe?
Despite the different laws regarding business permits for foreigners, there is one regulation most European countries share: foreigners intending to open ...
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Global News
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When to send out Form 1099-MISC to independent contractors?
IRS Form 1099-MISC summarizes income from all non-employee compensation. It’s what independent contractors use to calculate and file taxes. You must send ...
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Do I need to file 8606 for backdoor Roth?
You don’t have to file Form 8606 solely to report regular contributions to Roth IRAs. But see What Records Must I Keep, later. Is a backdoor Roth conversi...
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Who qualifies for insurance under ACA?
To be eligible to enroll in health coverage through the Marketplace, you: Must live in the United States. Must be a U.S. citizen or national (or be lawful...
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Is insurance premium taken out of every paycheck?
If you sign up for your employer-provided health insurance, the cost will come out of your paycheck. Whatever amount you choose to contribute will be dedu...
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How does Qbi deduction apply to pass-through entity?
To be eligible to claim a tax deduction for 20% of qualified business income (QBI), your business must be a pass-through entity. Pass-through entities are...
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Is it mandatory to have health insurance in 2021?
Is there a penalty for not having insurance? There is no federal government penalty for being uninsured in 2021, but you still need coverage! The ACA’s fe...
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Can you use business credit card points for personal?
It’s generally OK to spend rewards from a business credit card on personal trips as well as business trips, since rewards usually aren’t taxable. If your ...
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How many years of cash should I have in retirement?
Emergency Funds for Retirees Many experts recommend that retired folks keep between six and twelve months of daily living expenses in cash. Some even sugg...
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Can I deduct home office expenses in 2019?
As a result of the TCJA, for the tax years 2018 through 2025, you cannot deduct home office expenses if you are an employee. The TCJA did not change the h...
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