general
Are disability insurance payments taxable?
When SDI benefits are received as a substitute for UI benefits, the SDI is taxable by the federal government but is not taxable by the State of California...
Jul 23, 2026 • 1 READS
general
What do write offs mean?
A write-off is an accounting action that reduces the value of an asset while simultaneously debiting a liabilities account. It is primarily used in its mo...
Jul 23, 2026 • 1 READS
news
What is the process of filing returns?
Online: Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online. Login to e-Filing portal by en...
Jul 23, 2026 • 1 READS
news
Where do I deduct health insurance premiums on 1120S?
Page 16 of the Instructions for Form 1120S states: “Report amounts paid for health insurance coverage for a more than 2% shareholder (including that share...
Jul 23, 2026 • 1 READS
news
Does IRS send stimulus to TurboTax?
For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. As part of the income ta...
Jul 23, 2026 • 1 READS
news
Does TurboTax give you an exact date?
The dates for receiving a tax refund after it has been accepted by the IRS are only estimates based on the IRS target of sending a tax refund after 21 day...
Jul 23, 2026 • 1 READS
updates
Can I claim my 18 year old son on my taxes if he works?
Yes, a child under age 19 or a full time student under age 24 can still be claimed as a dependent regardless of the amount of income she has. Can you clai...
Jul 23, 2026 • 1 READS
updates
Are there any exceptions to selling your home for medical reasons?
This exception would apply if you started a new job or if your current employer required you to move to a new location. If you’re selling your house for m...
Jul 23, 2026 • 1 READS
updates
Why is TurboTax giving me the standard deduction?
Standard deductions ensure that all taxpayers have at least some income that is not subject to federal income tax. Standard deductions generally increase ...
Jul 23, 2026 • 1 READS
general
Are S corp shareholders considered owner employees?
An S corporation shareholder who performs more than minor services for the corporation will be its employee for tax purposes, as well as a shareholder. In...
Jul 23, 2026 • 1 READS
