asked
I have a small business and started using Quickbooks payroll in February 2020. I have one employee who was paid by written check in January and some of February without taxes being taken out. I want to add those checks to their YTD totals for the W-2 and properly report the employee wages and pay the proper payroll tax we still owe. What are the best steps to take?
May 25th, 2024
My son turned 18 in October 2020, lives at home, is still in high school, works, and makes around $8k per year. He depends on us for more than 50% of his support. I want to know if there is a way he could get the second and/or future stimulus payments. We got the first one for him because of his age in 2018. He was claimed as a dependent in 2019. If we claim him as a dependent in 2020, I understand neither of us gets the payment. If we don't claim him as a dependent in 2020, I believe he would receive the payment as a tax credit if he files as independent. Since he meets the criteria for us being able to claim him as a dependent, do we HAVE to claim him as a dependent? Is claiming him as a dependent a CHOICE if he meets the tests, or is it REQUIRED if he meets the tests? If this is a choice, is there any problem with designating him a dependent in 2021 if he was designated independent in 2020?
August 26th, 2024
I need a copy of my 2019 1040 and W2 forms. How can I obtain these documents?
September 26th, 2023
My dad improperly put me as a dependent on his 2019 taxes. He filed an amended return for 2019, but I haven't filed taxes in decades due to low income. I am on SSI and SS, and I didn't receive the $1200 stimulus from April 2020. How do I file to get the stimulus payment, and do I need to include my dad's amended tax form information?
November 12th, 2023
Do I pay capital gains tax on a second home even if I do not reside there all year round? Also, on an investment property, can I use the capital gain amount toward renovation on a new property that will be my primary residence and will that allow me to not pay capital gains tax? How can I defer capital gains tax if possible on selling a property in Florida?
March 6th, 2023
Which of the following are factors that will determine the deductibility of health insurance premiums for businesses? Select one: a. An individual can only claim the health insurance premiums write-off for months when neither them nor their spouse was eligible to participate in an employer-subsidized health plan. b. The deduction must exceed the earned income collected from the taxpayer's business. c. Eligibility to take the deduction is determined on an annual basis. d. Only A and B above are correct factors.
March 2nd, 2023