technology insights
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 ...
Read Journal Category
Technology Insights
technology insights
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...
Read Journal
technology insights
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...
Read Journal
technology insights
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...
Read Journal
technology insights
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 ...
Read Journal
technology insights
How do you negotiate commercial rent reduction?
Understanding Your Negotiation Points You can ask for a suspension or waiver of rent for a while. Alternatively, you could ask for a rent reduction e.g. 5...
Read Journal
technology insights
How does Restricted Stock get taxed?
RSUs are taxed as income to you when they vest. If you sell your shares immediately, there is no capital gain tax, and the only tax you owe is on the inco...
Read Journal
technology insights
Why did I receive an IRS IP PIN?
A1: The IRS IP PIN is a 6-digit number assigned to eligible taxpayers to help prevent the misuse of their Social Security number on fraudulent federal inc...
Read Journal
technology insights
When can I file my 2021/22 tax return?
The due date for filing the returns which would normally be July 31, 2021 has been extended to September 30, 2021 due to the COVID-19 pandemic. The return...
Read Journal
technology insights
Will I get a stimulus check if I filed taxes with TurboTax?
Taxpayers with direct deposit information on file will receive the payment that way. As part of the income tax filing, the IRS receives accurate banking i...
Read Journal