Tag Archives: income tax return
Don’t Forget Those Nominee 1099s
For tax purposes, if you receive income in your name that actually belongs to someone else, you are also a nominee. Being a nominee means that you must file a 1099 form with the IRS appropriate to the type of … Continue reading
Posted in All Taxpayers, Have you ever asked
Tagged 1099s, All Taxpayers, income tax return
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Is your business getting paid on time?
Small businesses regularly fail. In fact, fewer than 50% are still operating within five years of opening their doors. Why is the failure rate so high? Often it’s because management hasn’t established and implemented a strong collection policy. Deadbeat customers … Continue reading
Thinking about donating your car? Its not always what you think!
Rather than go through the hassle of selling an old car, you may get a tax deduction for donating the vehicle to a charity. An increasing number of charities have turned to car-donation programs. You may have seen ads from … Continue reading
Gift Tax? What? Who?
Below are some of the more common questions and answers about Gift Tax issues. The laws on Estate and Gift Taxes are considered to be some of the most complicated in the Internal Revenue Code. For further guidance, we strongly recommend … Continue reading
Posted in Gift
Tagged Enrolled Agent, Estate planning, FAQ, federal income tax, Gift tax, income tax return, internal revenue code
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Ten Tax Tips for Individuals Selling Their Home
The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all … Continue reading
Posted in All Service Providers, All Taxpayers, IRS Tips, Realtors, Record Keeping, Selling house
Tagged All Service Providers, Capital Gains, capital gains and losses, Day Care Providers, form 1040 schedule d, income tax return, internal revenue service, IRS, publication 523, Realtors, Record Keeping, Recordkeeping, Selling house
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10 Facts from the IRS about Amending Your Tax Return
If you discover an error after you file your tax return, you can correct it by amending your return. Here are ten facts from the Internal Revenue Service about amending your federal tax return: 1. When to amend a return … Continue reading
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