technology insights
How are business entities set up?
To get started there are a few key things you need to do: SELECT A COMPANY NAME. CHOOSE AN ENTITY TYPE. FORM THE ENTITY THE RIGHT WAY. OBTAIN AN EIN. GET ...
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Technology Insights
technology insights
What happens to your taxes when your parent dies?
When the mother passed away, the daughter became full owner, but as half owner, she received only half of the step-up. If she sells the house for the $1 m...
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technology insights
What makes you a full year resident of Massachusetts?
You’re a full-year resident if: Your home is in Massachusetts for the entire tax year, or Your home is not in Massachusetts for the entire tax year but yo...
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technology insights
Can a child live at home with an adult?
Yes, your child may be an adult, and therefore legally able to make his own decisions, but your home is your home. You have the right to enforce the rules...
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technology insights
How much can a student earn without paying taxes?
A child who has only earned income must file a return only if the total is more than the standard deduction for the year. For 2019, the standard deduction...
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technology insights
Why does my dad keep leaving me?
There are a variety of reasons for him leaving. Maybe the pressure of providing for his family was more than he could handle. It takes a lot to be a paren...
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technology insights
Can LLCs be Scorps?
A multi-owner LLC is automatically taxed as a partnership by default, while LLCs with one owner are taxed like sole proprietorships (one-owner businesses)...
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technology insights
What is the maximum amount withheld for Social Security?
Any income you earn beyond the wage cap amount is not subject to a 6.2% Social Security payroll tax. For example, an employee who earns $165,000 in 2021 w...
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technology insights
What happens if you get a stimulus check from your spouse?
What happens, however, if you received a $1,400 stimulus check for a spouse who has passed away? “Individuals who were deceased before January 1, 2021, if...
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technology insights
How to get out of a federal tax lien?
Send your application for lien withdrawal to the IRS. Start by filling out IRS Form 12277. It’s a simple, one-page form. This is basically a request to re...
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