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Can I deduct expenses for commuting?
Commuting expenses are costs that are incurred as a result of the taxpayer’s regular means of getting back and forth to his or her place of employment. Co...
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Do I have to declare gifts at Customs?
Gifts you bring back for your personal use must be declared, but you may include them in your personal exemption. Gifts intended for business, promotional...
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What is the average cash rent for farmland in Illinois?
In 2020, the Illinois Society reported an average rent for excellent quality farmland that is professionally managed farmland of $305 per acre. As with al...
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Can a 501c7 give scholarships?
Establishing the Scholarship Program When drafting the governing documents of a new 501(c)(3) organization that will make scholarship grants to individual...
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What should I ask a single person?
Questions Every Single Should Ask When Dating… Do you live with someone? Does someone live with you? Do you have any children? Are you dating anyone else?...
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Should a CPA become an enrolled agent?
Enrolled agents are tax specialists. EAs work on tax matters only, so they can specialize in certain areas such as tax preparation or tax resolution. Ther...
general
Are Annuities reported on 1099-R?
Form 1099-R is used to report distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts, or pensions. Anyone who rec...
updates
Do you get tax credit for church donations?
Churches are like other charities when working out if you can claim donations made to them. This means that your church needs to be registered as a deduct...
general
Is it too late to save for retirement at 37?
It is never too late to start saving money you will use in retirement. Even starting at age 35 means you can have more than 30 years to save, and you can ...
updates
Does Arizona tax active duty military?
Because Arizona does not tax your active duty military pay, you should subtract the amount of active duty military pay that you included in your federal a...
updates
Can you use Quickbooks for real estate?
Unfortunately, many real estate agents don’t know how to get started tracking their numbers. One easy-to-use tool to help you do this is Quickbooks. Quick...
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What are exemption rights?
A waiver of exemption was a provision in a consumer credit contract or loan agreement which allowed creditors to seize, or threaten the seizure, of specif...
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What professions are considered independent contractors?
People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an ind...
