updates
Is TurboTax part of Credit Karma?
Intuit recently acquired Credit Karma; however, Credit Karma and TurboTax are separate products. You have to have separate accounts for both of these prod...
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Why do some people owe taxes and others get a refund?
In a nutshell, over-withholding means you’ll get a refund at tax time. Under-withholding means you’ll owe. Many people try to get as close as possible to ...
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What happens if auditors find mistakes?
Auditors often ignore minor errors and might let you off with a 20 percent penalty, but if they find you guilty of deliberate tax evasion, you might have ...
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What are four characteristics of limited partnerships?
They are a separate legal entity from their members. They have the benefit of limited liability for their members. They are taxed as a partnership. They h...
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Is a loan counted as taxable income?
Put simply, no, personal loans are usually not taxable as income. You do not owe taxes on a personal loan unless that loan is forgiven or cancelled before...
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Can you draw Social Security before 62 if your spouse dies?
If My Spouse Dies, Can I Collect Their Social Security Benefits? A surviving spouse can collect 100 percent of the late spouse’s benefit if the survivor h...
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What are the loss limitations for personal casualty losses attributable to federal disasters?
personal casualty losses. You can deduct qualified disas- ter losses without itemizing other deductions on Schedule A (Form 1040). Moreover, your net casu...
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Can a nonprofit absorb another nonprofit?
Yes, a nonprofit organization may create a subsidiary with either a for-profit or a nonprofit structure. If you think this is something your organization ...
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How do I quit my job as a consultant?
Give your employer at least two weeks’ notice. Thank them for the opportunity. Offer to help them as much as possible to make their lives easier with you ...
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When someone dies who does their pension go to?
Typically, pension plans allow for only the member—or the member and their surviving spouse—to receive benefit payments. “When a plan participant dies, th...
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