technology insights
Can a taxpayer claim an elderly parent as a dependent?
If you choose to claim an exemption for your parent, you must also ensure that you are not an eligible dependent to another taxpayer. This restriction is ...
Read Journal Category
Technology Insights
technology insights
Can I sell stock information?
An insider is someone with either access to valuable non-public information about a corporation or ownership of stock equaling more than 10% of a firm’s e...
Read Journal
technology insights
Can a deceased taxpayer file a Final Form 1040?
Losing a loved one is difficult. When preparing and filing a deceased taxpayer’s final Form 1040 (U.S. Individual Income Tax Return), it is important to c...
Read Journal
technology insights
What is excluded from an estate?
What is excluded from the Estate? Generally, the Gross Estate does not include property owned solely by the decedent’s spouse or other individuals. Life e...
Read Journal
technology insights
Is child tax credit based on earned income?
Parents don’t need to be employed or otherwise have earnings in order to claim the child credit for 2021. Prior rules limited the credit to families havin...
Read Journal
technology insights
Can I deduct child care expenses paid to a friend?
The IRS offers a child care tax credit to those who pay child care costs, which enable taxable income to be earned. You don’t need to pay a child care fac...
Read Journal
technology insights
What happens if you receive an incorrect 1099-MISC?
The 1099-MISC form has a special box that should be checked to show that the it is correcting a prior 1099 form. It is not unusual for clients to fail to ...
Read Journal
technology insights
How do you apologize for incorrect information?
How to Apologize for Providing Incorrect Information I am sorry I quoted the wrong figures. I am sorry I gave you inaccurate information. Please accept my...
Read Journal
technology insights
Are 2019 charitable contributions tax deductible?
You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up ...
Read Journal
technology insights
How to ask a question about applying for settled status?
Use this form to ask a question about applying for settled status under the EU Settlement Scheme. We’ll reply within 5 working days. You may find the answ...
Read Journal