For an employee who joined on 18 Mar 2018, with a company pay period from 17 Mar to 30 Mar, should their pay be prorated by deducting one day’s pay, and if so, how much should be deducted for a day’s pay?
June 11th, 2024
I have a C-Corporation that acts as a holding company for several wholly-owned subsidiary LLCs. I am a 20% shareholder in the holding company. Can I deduct employee expenses if I work for one of the LLCs, and am I able to receive a wage from the LLCs? Additionally, if the holding company wants to hire a manager for any of the LLCs, how would that process work?
March 11th, 2023
I am a resident of Indiana and worked in both Indiana and Oregon last year, earning most of my income in Oregon. I used TurboTax to do my taxes and it indicates I owe $3600 in Indiana state tax, even though I only earned $9000 in Indiana and paid $300 in income tax on that amount. Does this seem right, and how should I proceed with my tax filing?
April 30th, 2024
Can I still file an amended return for the 2016 tax year if I had to pay for that year?
October 25th, 2024
Is the occupation listed on a 1040 important, and should it be consistent with prior years? Additionally, is it a problem to file a paper return printed on both sides?
October 16th, 2023
My client is a retired public safety officer. His retirement system deducts health insurance for him and his wife from his annuity payment and pays it directly to the health insurance provider. They are both self-employed. Can they take a deduction for self-employed health insurance through this type of arrangement? I know he can deduct up to $3,000 from his annuity income, but is it possible to deduct it on 1040 line 29 instead of on line 16b, or can it be deducted on 16b and his wife on line 29? I am not sure how insurance through an annuity works for self-employed individuals.
August 4th, 2024