updates
Are revocable living trusts taxable?
Revocable trusts are the simplest of all trust arrangements from an income tax standpoint. Any income generated by a revocable trust is taxable to the tru...
Category: Updates
updates
Do you put the same number on your AGI if you are married?
You and Your Current Spouse Filed “Married Filing Jointly” Last Year: If you filed your federal return last year with the filing status “Married Filing Jo...
updates
Can I take money out of my STRS account?
CalSTRS is required to withhold 20 percent federal income tax on all rollover-eligible payments distributed directly to you. You may be subject to an addi...
updates
Do doctors get W-2?
Whether it’s a main job or a side gig, doctors are either W-2 employees or 1099 workers. A W-2 employee is a worker who receives a regular wage from an em...
updates
How do I have withholding taken out of my Social Security?
If you are already receiving benefits or if you want to change or stop your withholding, you’ll need a Form W-4V from the Internal Revenue Service (IRS). ...
updates
Can I study part time while on H1B?
Your employer should file an H1B amendment to convert your status from a full-time to a part-time worker. You can then start studying full time while you ...
updates
What does HAVA stand for?
Help America Vote Act Acronyms (colloquial) HAVA Nicknames Help America Vote Act of 2002 Enacted by the 107th United States Congress Effective October 29,...
updates
What happens when you get a check from a 529 plan?
If the check from the 529 plan is made payable to the account owner, the process is different even if the end result is the same. This time, Form 1099-Q i...
updates
Can I deduct cash for keys?
The answer depends on the circumstances of the cash for keys payment. If the payment is made by a landlord looking to get bad tenants to move out, then th...
updates
What is the penalty for liquidating an IRA?
If you withdraw money from a traditional IRA before you turn 59 ½, you must pay a 10% tax penalty (with a few exceptions), in addition to regular income t...
updates
What does next invoice date mean?
The date on which an invoice for a good is issued, which is usually the same day the good is sent to the buyer. Payment is due a certain number of days af...
updates
Do noncustodial parents have rights to student records?
Simply put, whether or not you have custody of your child, you still have rights to his or her educational records. The custodial parent does not reserve ...
updates
Is a widow entitled to husbands State Pension?
Inheriting or increasing State Pension from a spouse or civil partner. You might be able to inherit an extra payment on top of your new State Pension if y...
