How does a car settlement work?
In a typical car accident settlement, the legally liable party agrees to pay money to the injured party, and in exchange, the injured party releases the l...
Category: Updates
What is a Form 11652?
It lists the documents you must send that support the income and expenses claimed on your Schedule C. Documentation is king. Return the Form 11652 with th...
Where can I file an amended tax return?
To file an amended tax return, you can either e-file or download a paper Form 1040X from You must mail the paper form if you choose to paper file. You can...
What are the tax considerations for custodial accounts?
Any investment income—such as dividends, interest, or earnings—generated by account assets is considered the child’s income and taxed at the child’s tax r...
Who should fill out Form W-8BEN-E?
The W-8BEN-E is a form from the United State’s tax collection agency, the Internal Revenue Service (IRS). All foreign (non-U.S.) businesses that are recei...
How legally binding is a personal guarantee?
Is a Personal Guarantee Legally Binding? As state above, they are enforceable. The standard practice would be for a creditor to take the debtor to court, ...
Who owns a partnership business?
A partnership is the relationship of two or more ‘partners’ carrying out a business with a view to making a profit. You and your partners are responsible ...
When to file Form 1040X to correct tax return errors?
Schedule C is the most common tax schedule for self-employed small business owners. It’s used as an example here. The process of correcting your tax retur...
How long do you have to keep a stock after you buy it before you can sell it?
You must own a stock for over one year for it to be considered a long-term capital gain. If you buy a stock on March 3, 2009, and sell it on March 3, 2010...
How can I get my W2 from 2001?
If you can’t get your Form W-2 from your employer and you previously attached it to your paper tax return, you can order a copy of the entire return from ...
