technology insights
Why does TurboTax charge for paying with refund?
It is the service charge of the third party processor who received the federal tax refund from the IRS then deducts the TurboTax account fees and their se...
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Technology Insights
technology insights
Who is the executor of an estate after a funeral?
Soon after the funeral, an executor of a deceased person’s estate should promptly turn their attention to carrying out the terms of the Will. There are es...
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technology insights
When should you impute interest on a loan?
Every month, the IRS publishes a list of current Applicable Federal Rates, which reflect market conditions. For example, in June 2018, the AFR for loans o...
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technology insights
How do I correct a FBAR?
Those who need to correct a filed FBAR must file a new FBAR with the corrected information and mark the new FBAR as “Amended.” Fill it out completely, eve...
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technology insights
How are owners paid in a corporation?
Sole proprietors pay themselves on a draw, partnership owners pay themselves on guaranteed payment or distribution payments, and S and C corporations pay ...
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technology insights
Are dividends taxed when received?
Generally speaking, dividend income is taxable. If you own a stock, such as ExxonMobil for example, and receive a quarterly dividend (in cash or even if i...
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technology insights
When do you have to fill out Form 709?
If in 2020 you gave someone cash or property valued at more than $15,000, you’ll have to fill out Form 709 for gift tax purposes. Where do I find the unif...
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technology insights
How do you multiply dependents on w4?
You’ll multiply the number of qualifying children you have under age 17 by $2,000. Then, you’ll multiply the number of other dependents you have by $500. ...
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technology insights
How much do camera lenses depreciate?
bodies 25% a year; flashes and accessories 20% a year; lenses 10% a year. How do you calculate depreciation on a camera? A camera released 5 years ago at ...
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technology insights
Do you pay maintenance if you share custody?
the vast majority of parents assume that the parent who earns more than the other will pay child maintenance. That’s not right as under complicated child ...
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