general
How to get a copy of your prior year tax information?
If the return was filed and accepted, log into the account and click on the Prior Years tab. Select the tax year you wish to access and click on Access Re...
Jul 23, 2026 • 1 READS
news
What is the short-term tax rate for 2020?
Short-Term Capital Gains Tax Rates Tax Rates for Short-Term Capital Gains 2020 Filing Status 10% 12% Single Up to $9,875 $9,876 to $40,125 Head of househo...
Jul 23, 2026 • 1 READS
general
How do you calculate capital gains on constructed property?
The long term capital gain tax is calculated by multiplying the tax rate of 20% with the capital gain amount. On the other hand, short term capital gain t...
Jul 23, 2026 • 1 READS
general
Can uncle gift to nephew?
Consequently, any sum of money gifted by uncle to his nephew shall not be chargeable to tax in the hands of the nephew. However, reverse shall be taxable ...
Jul 23, 2026 • 1 READS
news
Can a restaurant be a limited liability partnership?
Can a restaurant be an LLC? Yes, a business owner of a restaurant may elect to form an LLC. In fact, both an LLC and a sole proprietorship can be a reward...
Jul 23, 2026 • 1 READS
general
How do I amend my 2019 TurboTax Online Return?
If you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, s...
Jul 23, 2026 • 1 READS
updates
What is the difference between 1099 MISC and 1099 NEC?
Form 1099-MISC differs from Form 1099-NEC in one distinct way. A business will only use a Form 1099-NEC if it is reporting nonemployee compensation. If a ...
Jul 23, 2026 • 1 READS
general
When do you start receiving distributions from your 401k?
Calendar year in which you reach age 72 (70 ½ if you reach age 70 ½ before January 1, 2020) Calendar year in which you retire. However, a plan may require...
Jul 23, 2026 • 1 READS
news
Does Michigan have to pay back unemployment?
The letters prompted concern that people who had received benefits from over the past year would have to pay them back. However, Gov. Gretchen Whitmer rec...
Jul 23, 2026 • 1 READS
general
When to use a 1099 are for life insurance?
Form 1099-R is used to report distributions from pensions, annuities, retirement or profit-sharing plans, IRAs, insurance contracts, etc. Proceeds from li...
Jul 23, 2026 • 1 READS
