Employee Business Expenses
Taxpayers who pay work-related expenses out of their own pocket may be able to deduct them. Generally, employee business expenses are...
1099-Misc need to be issued by January 31
Who Must File Form 1099-MISC ?, Each person to whom you have paid during the year: At least $600 in: – Rents, – Services performed by...
5 Deductions for Self-Employed Workers
1. Good accounting software- such as QuickBooks,® . Do not forget to include business-related travel expenses, which are 100 % deductible,...
Household Employees
If you have a household employee, you may need to withhold and pay Social Security and Medicare taxes (FICA), pay federal unemployment...
Capital Gains and Losses
Capital Assets - Most property an individual owns and uses for personal or investment purposes is a capital asset. For example,a house,...
Foreign Bank and Financial Accounts
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account,...
Taxpayers who want to take a tax loss as a business.
If an individual, partnership, estate, trust, or an S corporation engages in an activity that is not conducted as a for-profit business,...
How does the premium tax credit work?
You may elect to have advance payments of the credit paid directly to your insurance provider – this will help offset premium costs. You...
Small Business Owners !
DO NOT FORGET to send your subcontracts 1099 before February 1,2016 . If you fail to file a correct 1099 information return by the due...
U.S. Expatriate Tax
Every U.S. citizen - regardless of whether they are living in the U.S. or abroad - must file a tax return with the federal government and...
