general

Who can file 1040 short form?

Before recent tax reforms, you could file with Form 1040EZ if: Your filing status was single or married filing jointly. You had taxable income of less tha...

Jul 11, 2026 • 1 READS

general

Is life insurance proceeds taxable in Illinois?

In Illinois, as in every other state, life insurance is not taxable to the beneficiary for income tax. The only portion of life insurance that may be char...

Jul 11, 2026 • 1 READS

general

What is 401a in Box 14?

A 401(a) is a retirement plan offered to key employees by a government employer. This money is contributed by the employer and is not counted as income to...

Jul 11, 2026 • 1 READS

general

How to file taxes for a Partnership LLC?

Before you begin to form a hybrid business structure, such as an LLC, you must first understand how to file taxes for a partnership LLC. First, you’ll nee...

Jul 11, 2026 • 1 READS

general

What does it mean if the Fed cuts rates to 0?

If interest rates are set at 0%, that typically means banks are making 0% on interbank loans. That usually leaves banks with three options: 1) pay interes...

Jul 11, 2026 • 1 READS

general

Do you have to pay taxes on stock gains Quarterly?

The IRS may require you to make quarterly estimated tax payments if you have substantial income, such as that from the sale of an asset, not subject to wi...

Jul 11, 2026 • 1 READS

general

How does a LLC affect your personal taxes?

A benefit of LLCs is they don’t have to pay a business income tax, as the IRS doesn’t look at them as being an individual entity when it comes to tax purp...

Jul 11, 2026 • 0 READS

general

Are old trailers worth anything?

Older trailers are more valuable that newer trailers. Trailers that have survived the hardships of time and weather are more valuable to a collector. Trai...

Jul 11, 2026 • 1 READS

general

What name do I put on 1099?

The 1099-MISC tax form will print with the First and Last Name on line 1. In addition, the IRS requires the use of the owner’s Social Security number on t...

Jul 11, 2026 • 1 READS

general

Does it make sense to have 2 savings accounts?

Having multiple savings accounts for each of your savings goals is a good idea regardless of current interest rates, Kulak says. Can you pay taxes from tw...

Jul 11, 2026 • 1 READS