Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...
Posted by Don Bell Law on 12/20/2020
All investors and shareholders that get dividends and distribution will have the dividend reported on IRS Form 1099. Examples of dividends reflected on the 1099 DIV form are capital...
Posted by Carmen Garcia on 12/15/2020
What is the 1099-PATR form?The forms in the IRS 1099 Series helps taxpayers report money received from various lesser-known sources. Form 1099-PATR is the IRS form sent to taxpayers...
Posted by Flynn Financial Group Inc on 11/30/2020
Also known as REIT, a real estate investment trust is known as a mutual fund for real estate. From the name, one can infer that the trust invests in investments related to real estate....
Posted by Flynn Financial Group Inc on 11/24/2020
For people in the real estate business with agents that you give commissions after every sale or lease, you must report such payment on a 1099 MISC form. Your obligation as an employer...
Posted by Carmen Garcia on 09/18/2020
The EITC (earned income tax credit) is a refundable credit that applies to all taxes owed after completing the return and calculating the amount owed. The Internal Revenue Service...
Posted by Carmen Garcia on 09/14/2020
What is Liquidation?Liquidating a business is the process by which business comes to an end and no longer exists. This can happen for several reasons and can be voluntary or involuntary....
Posted by Flynn Financial Group Inc on 07/09/2020
This year’s tax day has been delayed by the United States Internal Revenue Service from the 15th of April to the 15th of July. This means a lot of Americans won’t be worrying...
Posted by Tim Thompson CPA PLLC on 06/23/2020
2020 has been a unique year with lots of activities and interesting policies. With the distraction from the COVID-19 pandemic, it is easy to forget essential tax rules necessary. Also,...
Posted by Advanced Accounting & Tax Planning on 06/22/2020
