technology insights
What W-2 do I need for 2018?
But in order to submit your tax return, you first need a W-2 form, or Wage and Tax statement, from every employer you had during 2018. If you’re a freelan...
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Technology Insights
technology insights
Do I have to pay taxes on money my mother gave me?
The person who makes the gift files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amou...
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What is the cost basis for selling a second home?
The cost basis is the amount you spent to buy and improve your second home, including the purchase price, any acquisition fees, and the cost of any capita...
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What does an independent contractor need to fill out?
Form W-9. The IRS requires contractors to fill out a Form W-9, request for Taxpayer Identification Number and Certification, which you should keep on file...
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Where do I mail my Illinois 2019 tax return?
Individual Income Tax Addresses Area Address IL-1040, Illinois Individual Income Tax Return Without Payment PO BOX 19041 SPRINGFIELD IL 62794-9041 With Pa...
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Can foreigners form LLC in the US?
Anyone can form a Limited Liability Company (LLC) in the USA; you do not need to be a US citizen, or a US company. Foreign citizens and foreign companies ...
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How much should Consultants set aside for taxes?
Because freelancers must budget for both income tax and FICA taxes, you should plan to set aside 25% to 30% of your taxable freelance income to pay both q...
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What is QEF?
The QEF or Qualified Electing Fund election under §1295 is optional method of taxation available for certain PFICs. In order for a mutual fund or other PF...
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Where do I enter overpayments on Turbotax?
Where do i enter my 2019 Income tax overpayment on my 2020 return Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credit...
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What is form RP-5217 PDF?
The RP-5217-PDF is a web-based downloadable, barcoded, pdf document. (It replaces the RP-5217 four-part paper carbonless form.) Form preparers will enter ...
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