When do I need to file my taxes for 2019?
Get ready to file your 2019 taxes. March 13, 2019. Visit IRS.gov for steps you should take now for the 2019 tax filing season. Because of changes in the t...
Category: Culture
Can an LLC have a corporation as a member?
Yes! All states allow for other types of business entities (not only individuals) to serve as members of LLCs. Generally, there are very few restrictions ...
Do small business owners make more money than employees?
In the short term, the answer will always be the employee makes more money. As a business owner, you walk away from a comfortable salary and invest a siza...
Does the IRS know your date of birth?
The IRS relies on the information for your birth date from the Social Security Administration which is provided directly from their data base. If SSA reco...
How do I confirm my tax extension?
If you use the U.S. mail to send your extension, you’ll have to contact the Internal Revenue Service (IRS) to ask about extension status. Currently, you c...
What do you need to know about Form 8938?
If you are required to file Form 8938, you must report the specified foreign financial assets in which you have an interest even if none of the assets aff...
What does code 290 mean on transcript?
In simple terms, the IRS code 290 on the 2021 tax transcript means additional tax assessed. It may mean that your Return was selected for an audit review,...
How do I get a copy of 501c3 letter?
If your nonprofit has misplaced your 501(c) determination letter for the IRS, you can get a copy of an affirmation letter to have “proof” of your tax-exem...
How much can be claimed when claiming a stock market loss?
Alternatively, if you had $100,000 of gains, you could use $100,000 in losses that year. However, if you’ve got more losses than gains, most taxpayers can...
Who pays Florida corporate tax?
Florida S corporation shareholders are required to pay income tax for their share of the earnings from the corporation. They must pay these taxes even if ...