Can someone claim me as a dependent if I filed my own taxes?
You can still claim your child as a dependent on your own return. He/she can file his own return for a refund of some of his withheld wages (he won’t get ...
Category: Updates
How often do you need to complete a w8ben form?
Requirement to Complete Form W-8: This form must be renewed every three years. If the form W-8 is no longer valid, IBKR will assume that you are a non-US ...
How much does it cost to open a sauna business?
What are the costs involved in opening a sauna installation business? Expect to invest up to $250,000 to get your company up and running. Initial franchis...
Is spousal support based on gross or net income?
In California, it can be described that spousal support calculations are based on net income. However, that can be misleading because what that means in p...
Is rubbing alcohol subject to excise tax?
years 2000, 2001 and 2002 is taxable Petitioner vigorously insisted that under Article 134 in relation to Article 141 of the National Internal Revenue Cod...
How do shareholder loans affect basis?
A capital contribution (also called paid-in capital) increases the shareholder’s stock basis; a loan increases the shareholder’s debt basis. Basis is impo...
Can I get a mortgage for a house in a different state?
Yes, you can get a mortgage in one state to buy a property in another state. Many people are now considering moving to a lower cost state due to the accep...
What happens if you claim a false dependent on your taxes?
When you knowingly claim a false dependent on your taxes, you risk sanctions and a potential audit from the IRS. Claiming false deductions like dependents...
How do you sell personal training on social media?
5 Super-Effective Ways to Sell Online Personal Training on Social… Create a Facebook Group. Host a Free Facebook Live Workout—Kind Of. Ask Clients to Shar...
How can I get an extension to file my tax return?
You can get an automatic extension of time to file your tax return by filing Form 4868 electronically. You’ll receive an electronic acknowledgment once yo...
