I moved and I’m waiting on my ITIN number. How can I get that?

August 1st, 2023

Is a Trade School considered College for tax purposes? Can a taxpayer claim her 20-year-old son, who is in trade school and receives financial aid through FAFSA, as a dependent under the category 'over 18 and a Student'?

November 2nd, 2023

I filed my 2019 taxes as 2020 through TurboTax. I need to amend the year. What should I do?

January 8th, 2024

I have an S Corp registered in New Jersey. The NJ state introduced a new rule in Jan 2020 allowing NJ Income Taxes to be paid at the entity level (S corp or LLC) instead of passing it to owners. How can I enroll/elect for the 'Entity level tax', what is the deadline for 2020 taxes, and what are the rules around it? Additionally, if I'm already close to the $10,000 cap on SALT taxes from other income sources, does it make any difference whether I elect for PTE tax or not from my S corp? How do I account for these tax payments in my books, and can I make an estimated payment at the PTE level for 2020 income from S corp and show that expense as accounts payable for 2020 year, paid in 2021?

September 16th, 2024

My company's W-2 has boxes 15-20 filled, but when I try to submit it on 1040.com, I can't complete my W-2 because I filled in these boxes. The error message states that there is no local income tax in Colorado, where my company is located. Should I fill in boxes 15-20 when filing my taxes, and can you recommend a trustworthy tax preparation service?

October 22nd, 2024