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Can a non-custodial parent claim child and dependent care credit?
The non-custodial parent could claim the child as a dependent and for purposes of the child tax credit. You can claim the child and dependent care credit ...
Category: General
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How do you record sale of an S-corp?
How to Record an S Corporation Stock Sale Confirm the new shareholder’s eligibility. Check for transfer restrictions. Record the sale in the stock transfe...
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Do my kids have to pay taxes on my 401k?
If you gift your IRA or a 401(k) to your loved ones, other than your spouse, they have to take distributions the next year, whether they want it or not. A...
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What towns have the highest property taxes?
Large Cities With the Highest Property Tax Rates Milwaukee, Wisconsin. Effective property tax rate: 2.17% El Paso, Texas. Effective property tax rate: 2.1...
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Why do I need to file Form 8960?
When to file Form 8960 If your net investment income is $1 or more, Form 8960 helps you calculate the NIIT you owe by multiplying the amount by which your...
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How much does it cost to start a mobile car wash?
ANSWER: The average costs for starting a mobile car wash / detailing business, depending on your area, is an initial investment of around $5,000 to $25,00...
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Can you take student loan interest deduction if you are a dependent?
You can’t deduct qualified student loan interest payments you paid on a loan in your dependent’s name. Neither of you can deduct the loan interest if both...
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How do you account for leasehold improvements reimbursed by the landlord?
If the tenant pays for leasehold improvements, the capital expenditure is recorded as an asset on the tenant’s balance sheet. Then the expense is recorded...
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Where can I get a loan for 60000?
You can secure a $60,000 personal loan using an online lender, bank, or credit union. Online lenders can provide an easier application process, faster fun...
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Is it smart to invest in dividend stocks?
Dividend Stocks are Always Safe Dividend stocks are known for being safe, reliable investments. Many of them are top value companies. The dividend aristoc...
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Can foreign income tax offset be carried forward?
As a non-refundable tax offset, the foreign income tax offset reduces your income tax payable (including Medicare levy and Medicare levy surcharge). Once ...
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How long does it take for a house to go into foreclosure in Ohio?
six to 18 months In Ohio, the foreclosure process can take anywhere from six to 18 months or longer. How long will a foreclosure action or bankruptcy stay...
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Why did my job give me a 1099-NEC?
At tax time, you receive a Form W-2 from your employer. Independent contractors: Your check won’t have any payroll taxes withheld. That means paying as yo...
