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How are passive losses treated?
If these passive losses exceed your passive income, they are suspended and carried forward indefinitely until future years, when you either have passive i...
Category: General
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What are indirect expenses for home office?
If you use the actual-expenses method, you can deduct direct expenses — such as painting or repairs solely in the home office — in full. Indirect expenses...
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Can the Department of Education garnish my tax refund?
Will your tax refund be garnished? You must have federal student loans in default to have your tax refund garnished. Federal student loans enter default a...
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What is a decentralized corporation?
A decentralized company business structure is one in which company executives place important decision-making authority in the hands of front line and loc...
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Does a single-member LLC need to file Form 941?
Steps for Filing as a Single-Member LLC Pay the self-employment tax if the net gain from the company exceeded $400 or more in the tax year. Report employm...
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Do you need a business license in Philadelphia?
All businesses that operate in Philadelphia must apply for a Commercial Activity License (CAL) from the Department of Licenses and Inspections. You can al...
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What happens to CalSTRS if I quit?
When you terminate your CalSTRS-covered position, you can request a refund of your Defined Benefit account contributions and your Defined Benefit Suppleme...
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Do beneficiaries pay taxes on death benefits?
Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, aren’t includable in gross income and you don’t ha...
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Is travel time considered work time in California?
Compulsory travel time longer than the employee’s normal commute is considered compensable time. Travel time to a job site within reasonable proximity of ...
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How do I declare sublease income?
Yes, you must declare the income you received from subletting your apartment. You will need to treat this as Rental Income and report it on a Schedule E. ...
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Do franchisees receive training?
It is both the initial and ongoing training that makes a franchise investment so appealing to entrepreneurs. Potential franchisees want reassurance that t...
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Is self publishing considered self employment?
Freelance income is self-employment income, and so are any royalties you receive for that book you published or self-published. That can be a good thing, ...
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Are food bank donations tax deductible?
Donations of $2 or more are tax deductible in Australia. By completing this donation you agree to the terms and conditions of the Foodbank NSW & ACT D...
