general
Are fundraising events taxable?
Fundraising proceeds aren’t considered a taxable source of income by the IRS. Fundraising tax laws define donations as gifts, which recipients don’t need ...
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Do you get a tax break for beekeeping?
Landowners can often qualify through beekeeping If you own 5 to 20 acres of land you could be saving hundreds if not thousands in property taxes every yea...
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Are Sallie Mae student loans tax deductible?
Sallie Mae educational loans can qualify for the student loan interest tax deduction. Is Sallie Mae federally funded? All new Sallie Mae loans are private...
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Should I file FBAR for the first time?
If you reported all the foreign income—or wouldn’t owe more tax even if you had—your big failure was the FBARs. You probably should start filing now, even...
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What is a good 1 year return on stocks?
Generally speaking, if you’re estimating how much your stock-market investment will return over time, we suggest using an average annual return of 6% and ...
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Can resident alien Receive 1042s?
If you are a US resident, by receiving a Form 1042- S with the code 16, you will treat it as receiving a scholarship or fellowship to offset your qualifie...
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How do you respond to false reviews?
Their top tips are: be brief, be defensive, be pleasant, and respond in the same way that you would for a negative review by a real customer. You might wr...
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Can start-up expenses be deducted?
A corporation can deduct up to $5,000 of business startup costs under Sec. 195. The $5,000 deduction is reduced dollar for dollar (but not below zero) by ...
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How do you say thank you professionally for asking?
If you wanted to answer more formally you should have used something like Thank you for being concerned, It is really very nice of you to ask me. If it wa...
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Do Trusts have to file state returns?
Similar to individuals, trusts normally pay federal and state income taxes. Trusts are only taxed on ordinary income that is not distributed to a benefici...
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