general
Do LLCS get 1098?
To be eligible to claim the AOTC or LLC, the law requires a taxpayer (or a dependent) to have received Form 1098-T, Tuition Statement PDF, from an eligibl...
Jul 25, 2026 • 1 READS
news
What does it mean to be a sole proprietorship?
Having a sole proprietorship means you and your business have a shared identity, so the business isn’t a separate legal entity. As the owner, you take on ...
Jul 25, 2026 • 1 READS
updates
What if I filed a 1099 with the wrong payer information?
If you discover that you filed a 1099 with the incorrect payer name, address, and/or taxpayer identification number (TIN), you must write a letter to the ...
Jul 25, 2026 • 1 READS
general
How are mutual fund distributions reported?
The funds report distributions to shareholders on IRS Form 1099-DIV after the end of each calendar year. For any time during the year you bought or sold s...
Jul 25, 2026 • 1 READS
news
Is it bad to apply for a credit card and not use it?
The short answer is that nothing is likely to happen if you don’t use your credit card for a few months. Not using your card could actually help your cred...
Jul 25, 2026 • 1 READS
general
When did I Rent my Home for 5 months?
Mine was my primary home for 2.5/5 yrs, rented 3 months in 2016, vacant for 5+ months, sold in Sept 2016. Are all utilities, insurance, taxes reported on ...
Jul 25, 2026 • 1 READS
general
What happens if someone else claim my son on Thier?
Mailed returns are processed differently by the IRS. It will take some time (maybe even up to a year) but eventually the IRS will contact both parties and...
Jul 25, 2026 • 1 READS
news
How does a small business help with taxes?
Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to t...
Jul 25, 2026 • 1 READS
general
Why is TurboTax charging me for premium?
The Premium Services bundle is an optional add-on package offered to customers using a paid version of TurboTax Online with a California state return who ...
Jul 25, 2026 • 1 READS
news
How is an S corporation formed?
A corporation becomes an S corporation by filing an S corporation election with the IRS. The election is made on IRS Form 2553, Election by a Small Busine...
Jul 25, 2026 • 1 READS
