Do auto repair shops charge tax in California?
As noted under Labor and services, charges for repair, installation, and maintenance labor generally are not taxable. However, certain labor charges are t...
Category: Updates
Can an LLC have multiple members?
Like a single-member LLC, a multi-member LLC (MMLLC) is a lightweight business entity that combines the flexibility of a partnership with the limited liab...
How does the IRS treat easement payments?
Easements are treated as a recovery of the basis of the property first, with any excess proceeds treated as capital gain, which is taxed at a lower rate t...
What payroll tax expenses are deductible?
Other than income taxes, you may deduct expenses for other taxes your business pays: City or state gross receipts tax. State unemployment insurance contri...
Can I pay 1040SR online?
For those who don’t know, IRS Form 1040SR is a larger print version of the 1040, used by seniors who mostly have investment type income. It CAN be filed e...
Can I claim my 34 year old daughter as a dependent?
When claiming adults as dependents, the IRS uses a test called “qualifying relative.” This is how you can claim your child who is over the age of 24 and s...
Do settlement payouts get taxed?
Settlement money and damages collected from a lawsuit are considered income, which means the IRS will generally tax that money, although personal injury s...
What is another word of confirm?
Some common synonyms of confirm are authenticate, corroborate, substantiate, validate, and verify. While all these words mean “to attest to the truth or v...
Can a VA loan be assumed by a family member?
Who Is Allowed To Assume A VA Loan? VA loans are approved for veterans, currently serving military members, and surviving spouses who qualify for the bene...
Does Maryland tax active duty military pay?
The State of Maryland does not tax the military pay, and does not use the military pay to increase the tax liability imposed on other income earned in Mar...
