What is a DBA in real estate?
Regarding “Fictitious Business Names” The Real Estate Law requires that a fictitious business name (also known as a DBA) must appear. on your broker or co...
Category: Updates
Can I use my daughters 1098-t on my tax return?
If you claim a dependent, only you can claim the education credit. Therefore, you would enter Form 1098-T and the dependent’s other education information ...
Are investment advisory fees deductible for net investment income tax?
The recent tax overhaul has repealed the deduction for investment-advisory fees and effectively will eliminate your ability to deduct them. This will effe...
What happens if a fake check clears?
What happens if I deposit a fake check? Your check may clear within one or two days, and you can withdraw the check amount, but that doesn’t mean the chec...
What entities are required to receive a 1099?
Who Should (or Should Not) Receive a Form 1099-MISC? Individuals. Sole proprietorships. Partnerships, including limited partnerships and professional part...
Does section 1231 apply to corporations?
Section 1231 property receives a special benefit under the Internal Revenue Code. The tax code allows this because certain gains for IRC 1231 assets fall ...
How to timely file a rejected e-file return?
For a rejected e-file return to be considered timely filed by the IRS on paper post deadline, a copy of the reject notice and electronic postmark needs to...
Do Mexican banks report to IRS?
Your Mexican bank will have to report the interest on that account to the IRS. It is important to report that interest on your tax return on Schedule B. I...
Does qualified business income include rental?
IRS provides safe harbor to treat rental real estate income as QBI. If all requirements are met, a taxpayer’s rental real estate activities will be treate...
How long does it take to get 1099 in mail?
Employers are supposed to mail them out by January 31st. If you don’t receive it by early February, you should ask. The other form you are sure to receive...
