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Is EIN required for solo 401k?
If your solo 401(k) has more than $250,000 in it, you have to file an annual form with the IRS. You don’t need to be incorporated to establish a solo 401(...
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Local Updates
local updates
When did I move to New York City?
Bloglovin This week marks my one-year anniversary of living in New York City. I arrived here in March, when it was still cold (but sunny) outside. I remem...
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How do you justify a break in career?
How to address a career break on your CV Format your CV in a way that works for you. Prepare, prepare, prepare. Explain how the career gap has been a good...
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Does your spouse have to be the beneficiary on your 401k?
If you are married, federal law says your spouse* is automatically the beneficiary of your 401k or other pension plan, period. You should still fill out t...
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What is the standard deduction for a single taxpayer with no dependents?
$12,400 Tax deductions lower your tax burden by lowering your taxable income and you can either claim the standard deduction or itemize your deductions wh...
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Are 1099 required for rental property owners?
Under the provision, owners of property who receive rental income will be required to issue Forms 1099 to service providers for payments of $600 or more d...
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What does it mean when your tax refund says processed?
This means the IRS has your tax return and is processing it. Your personalized refund date will be available as soon as the IRS finishes processing your r...
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When is alimony no longer deductible on income taxes?
Alimony payments are no longer tax-deductible, and the receipt of alimony isn’t taxable as income for divorces entered into after December 31, 2018. 1 T...
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Can day traders deduct losses?
You’ll often find for the purposes of taxes for day trading, you can write off (deduct) capital losses, up to the number of capital gains you’ve earned th...
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Can F-1 student work without SSN?
A Social Security number (SSN) is issued to track earnings over a worker’s lifetime. The Social Security number itself is not a work permit. Students hold...
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