In addition to my basic income from my job, I have a side business, real estate holdings, investments, and an LLC investment partnership with some colleagues. There are a few other issues as well. Do you know how long it would take me to put together the tax returns with the issues I...
Should My Lawyer Do My Taxes? Income Tax Preparation, Accounting Services, and the Scope of the Attorney-Client PrivilegeHakun, Nicholas E.Tax Lawyer
Is there a simpler way to pay tax on my second income? How much tax do you pay on a second job? Mostly, the rates are exactly the same as you pay for primary employment. The basic rate applies for a second job too, just like higher and additional thresholds. So when you ask ‘do...
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You can track the progress of your return which removes a lot of the “Where is my refund?” guesswork. As these programs grow more advanced, they can now lead you through the process of claiming rebates and credits such as the American Opportunity Tax Credit which could lead to a bigger...
Tanza Loudenback:So I checked this morning and I had put in the wrong number for my adjusted gross income, which I took from my W2 from last year. Actually, you’re supposed to take that number from your return from the prev...
At this point you may be thinking, “OK. Well I’m in the __% tax bracket, and it’s obvious that my employer is withholdingwaymore than that!” You’re probably right. That’s because your employer isn’t just withholding for federal income tax. They’re also withholding for Social...
Do I need to report a gift on my taxes? If you receive a gift, you do not need to report it on your taxes. According to the IRS, a gift occurs when you give property (like money) without expecting anything in return. If you gift someone more than the annual gift tax exclusion amo...
Check out my guide on the basics ofhow to do your taxes. Related Posts: How to Use the IRS’s New W-4 Form to Balance your Tax Withholding How to File an Amended Tax Return How Long Should You Keep your Tax Records Married Filing Separately Vs. Married Filing Jointly...
ITR 4 Form is the Income Tax Return form designed for individuals, Hindu Undivided Families (HUFs), and firms (excluding Limited Liability Partnerships or LLPs) who choose to utilize the presumptive income scheme as per Sections 44AD, 44ADA, and 44AE of the Income Tax Act. What is a Pres...