Interested in becoming a certified public accountant. Learn how to become a CPA and the steps involved with becoming a certified public accountant
A Multi-Member LLC is taxed like a Partnership. Alternatively, you can ask the IRS to tax your LLC like a C-Corporation or S-Corporation. Married Couples: Instead of having your LLC taxed as a Partnership, married couples can elect to be taxed as a Single-Member LLC (aka Qualified Joint...
Deducting a loss is valuable only in a taxable account, not tax-advantaged retirement accounts, such asIRAsand401(k)s, where capital gains aren’t taxed. It’s easy tofind a qualified financial advisorto guide you through life’s most important financial decisions. ...
Melanie Lauridsen, a technical manager on the American Institute of CPA's (AICPA) tax staff, says there is also a category of dependent called a qualified relative. [See How to Get the Saver's Credit.] This person must meet a number of criteria. He or she must be a relative, although...
Made a mistake or missed a deduction? Learn how to amend a tax return with our step-by-step guide. Find out how to use Form 1040-X to correct your return and claim missed credits.
Taxable qualified retirement plan distributions Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and local tax deductions ...
CPA financial planners: how qualified are you?(PFP Forum)(Column)Zdenek, Al
2. Require a CPA, law license or enrolled agent designation How do you find the best tax preparer near you with the credentials you want? One way is to search the IRS’ directory. It includes preparers with PTINs and IRS-recognized professional credentials. Volunteer preparers and preparers...
Afinancial planneradds significant value to their client relationships by bringing in a qualified, vetted CPA to the table when their client is considering major changes to their financial picture. Clients can easily justify the advisor's value when they avoid costly mistakes because of the advisor...
There are three designations a qualified financial planner might have, but the first one is the most important: CFP. A CFP is a formal recognition of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement (such as with401(k)s). Owned and awarded by...