Do you have to file taxes as a self employed person?
To comply with federal law, you’ll need to file the appropriate self-employment tax forms — IRS Form 1040, 1040 Schedule C and Schedule SE; and, depending...
Category: Updates
What does it mean to defer tax return?
Tax deferral is when taxpayers delay paying taxes to some point in the future. Some taxes can be deferred indefinitely, while others may be taxed at a low...
What does final judgment of dissolution of marriage mean?
Final Judgment: You are divorced as the date indicated and free to marry again once that date passes. Interlocutory Judgment: You are still married. This ...
Can a trust be the beneficiary of a bank account?
Naming Beneficiaries It is possible to name a beneficiary for your bank accounts, including checking and savings accounts as well as certificate of deposi...
When was the child tax credit established?
1997 The child tax credit is a federal benefit that reduces income tax liability for people with children. It was created in 1997 and since then has expan...
Do I have to pay property tax in 2021?
Paying your LPT in 2021. If you were the liable person for the property on 1 November 2020 you have to pay LPT for 2021. Generally, the liable person is t...
How can I recover my income tax password?
Step 1: Go to the e-Filing homepage and click Login. Step 2: On the Login page, enter your User ID and click Continue. Step 3: On the Login page, select S...
Do you have to file a 1099 when selling real estate?
When real estate is sold, the seller is often subject to a capital gains tax. A 1099-S can also be used to report income made on rental property or invest...
Is retirement income taxed in Puerto Rico?
The Puerto Rico tax code underwent an overhaul starting for tax year 2011. Unlike the US, Puerto Rico does not tax social security pension income or unemp...
Who is likely to receive a K-1 form?
A K-1 is a tax form distributed by many partnerships, S-Corps, estates, and trusts. If you are a general or limited partner of a partnership, a shareholde...
