Is this 1099-R reporting a rollover of funds from a 401K?
In fact, you will receive a 1099-R when you do a 401(k) rollover, and it’s not a mistake. The investment company that held your money is required to send ...
Category: Updates
How does the US tax treaty affect Canada?
Three notable articles in the Canada-US Tax Treaty affect taxation – Article V on Permanent Establishment, Article VII on Business Profits and Article XV ...
What was the number of new houses sold in 2018?
There were 617 thousand new houses sold in the United States in 2018. The number of new houses sold in the United States took a big hit during the financi...
Am I self-employed if I am a subcontractor?
If you are a self-employed subcontractor, before you are first paid on a new job the contractor you are working for will ask you for your address and your...
What is SSA tax?
Social Security taxes fund the retirement, disability, and survivorship benefits that millions of Americans receive each year from the Social Security Adm...
How do I change my federal withholding in Quickbooks?
Here are the steps: On the left panel click Payroll, and then click the Employees tab. Click the employee’s name and select View paycheck List. Click the ...
Are divorced moms considered single moms?
So, even if you are divorced, you are a single mom — no matter how much you want to distance yourself from THOSE PEOPLE who never married. How does divorc...
Do you include expenses in 1099?
If your client reimburses you for expenses and includes those reimbursements on the 1099-MISC form, then simply deduct those expenses on your own tax retu...
Does an LLP submit a company tax return?
Limited Liability Partnerships do not file company tax returns or pay Corporation Tax, but they do have to register for VAT if their annual taxable turnov...
What does it mean to have an uncollectable tax debt?
An uncollectable tax debt means the IRS has determined a taxpayer does not have the financial ability to pay his balance. If you owe the IRS but do not ha...
