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How do you know if someone is an employee?
An employee is hired for a specific job or to provide labor in the service of someone else (the employer). When an individual begins a long-term working r...
Category: General
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Is sales tax a deductible expense?
Yes. If you’re allowed to deduct certain expenses, you can deduct the full cost of the expense including sales tax. However, you might have deducted local...
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When do you inherit a house in Florida?
You inherit a house by trust if the trust agreement states that you, or you with others, are entitled to the house. In cases involving a person died leavi...
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Can a family member pay off my student loans?
More on the unified credit can be found on TurboTax and these IRS instructions. In other words, student loans can be paid off by family members (or non-re...
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Can you offset gambling wins with losses?
You may deduct gambling losses only if you itemize your deductions on Schedule A (Form 1040) and kept a record of your winnings and losses. The amount of ...
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Is Social Security getting a raise in 2021?
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021. Read more about ...
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Can you claim home office expenses if you rent?
Yes. If your office is in an apartment (or in a house you rent), you can deduct the portion of your rent and maintenance costs that relate to the space th...
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What happens if you use the wrong Ein?
If you realize you made a mistake during your EIN application, you don’t have to fear. You may get a rejection notice from the IRS or you may notice somet...
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Which line on W-2 is salary?
Box 1 Taxable Wages in Box 1 Box 1 of the W-2 shows your taxable wages for federal income tax purposes. To arrive at your total salary using Box 1, add yo...
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When to start a husband and wife LLC?
If you’re going to have a single member husband and wife LLC, be sure that you have a solid plan in place if the business goes bankrupt or if you get divo...
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How much do interior design company owners make?
How much profit can an interior design business make? The total profit depends on the number of interior designers working for the firm and that there is ...
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Can I paper file New York State tax return?
Even though New York state does not want paper-filed returns, they will accept the mailed in return and process it. Can I file New York State taxes online...
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What to send a client who just died?
Depending on how well you and your client know each other, you can send a small, inexpensive sympathy gift basket or a hearty charcuterie and cheese gift ...
