local updates
Do I have to issue a 1099 to my child?
If you are paying children over the age of 18 or grandchildren, you have the option of treating them as either as subcontractors or employees. You will th...
Read Journal Category
Local Updates
local updates
Is a defined benefit pension plan taxable?
Defined benefit plans are qualified employer-sponsored retirement plans. Like other qualified plans, they offer tax incentives both to employers and to pa...
Read Journal
local updates
Can a couple filing their federal income tax?
Married couples have the option to file jointly or separately on their federal income tax returns. The IRS strongly encourages most couples to file joint ...
Read Journal
local updates
Is the IRS transcript correct?
No, a tax transcript won’t help you determine when you’ll get your refund. IRS transcripts are best and most often used to validate past income and tax fi...
Read Journal
local updates
Should I exercise my ISOs?
ISO as long as your company is performing well. Since your goal is capital appreciation, you may want to exercise your ISOs and purchase your company’s sh...
Read Journal
local updates
How does going to jail affect your life?
Although imprisonment can lead to delusions, paranoia, depression, suicidal tendencies, substance abuse, PTSD, as well as increased levels of hostility, o...
Read Journal
local updates
What do you need to know about form 8805?
About Form 8805, Foreign Partner’s Information Statement of Section 1446 Withholding Tax. This form is used to show the amount of effectively connected ta...
Read Journal
local updates
When do I find out the status of my refund?
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker. How long does it take for a ta...
Read Journal
local updates
Which is the correct way to fill out a W-4 Form?
In this step, the form notes that individuals with multiple jobs should complete Form W-4 with the information from their highest-paying job. That should ...
Read Journal
local updates
Can you own your own accounting firm?
Starting an accounting firm is like starting any small business – it requires a lot of work. However, industry and consulting firms list accounting firms ...
Read Journal