Jeffrey A. asked
What's the best course of action if I erroneously claimed an ERTC in 2021 as a single shareholder subchapter S corporation, where the only employee is the single shareholder, and the ERTC does not apply? The credits were taken against deposit due, but the ERTC has not been received.
May 3rd, 2024
Eduardo C. answered
The best course of action is to file an amended return to correct the 941 form and report the proper...
May 3rd, 2024
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What should be done with loans and personal expenditures for a former employee in 2021, including the reporting of these amounts as income, the payment of federal and state FICA taxes, notification to workers' comp insurance, and the necessity of sending a new W2 or filing an amended tax return?
February 23rd, 2024
Is there any kind of tax help to lower my taxes? I am currently located in Utah, 43 years old with no dependents, and on a payment plan with the state for taxes. My income is around $25,000 a year, but the taxes are calculated as if I made almost $100,000 a year due to a divorce and paying for my daughter's wedding and debt.
September 10th, 2023
I have a single-owner, single-employee S-Corp that received a fully forgiven Paycheck Protection Program (PPP) loan in 2021, used for payroll. I have not yet filed my 2021 Form 1120S due to uncertainty about the tax treatment of the PPP funds. How should I report the PPP funds on my tax return, and what is the tax-free benefit for me as the sole owner and employee?
August 5th, 2023
How can I view my account status, including balance, payments, tax records, and more, on the IRS website?
September 6th, 2023
What are the tax implications of selling 100 shares of WYNN at a loss, selling 100 call options at a strike price of $61, and buying 100 put options at a strike price of $57, all within a 30-day period, and how do wash sales apply to these transactions?
January 15th, 2024
