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Filing 1040 as a Dependent: What You Can and Can’t Claim

Filing a tax return as a dependent can be a bit tricky, especially when you're unsure of what deductions and…

4 weeks ago

FAQs on Late Filing Penalties and Extensions for 1120

Filing corporate taxes accurately and on time is essential for avoiding penalties, interest, and other complications. However, due to various…

4 weeks ago

FAQs for Filing 1120S with Zero Revenue or Net Loss

Filing taxes can be a complex process, especially for businesses operating as an S Corporation (1120S) that report zero revenue…

4 weeks ago

FAQs: Filing Form 1065 with No Activity or Dormant Partnerships

For partnerships in the U.S., filing Form 1065 is a crucial part of the annual tax filing process. Form 1065,…

4 weeks ago

Exemption Certificates: What They Are and How to Use Them

Exemption certificates are powerful tools used by businesses to claim exemptions from sales tax, use tax, and other specific tax…

4 weeks ago

End-of-Year Tax Planning Tips to Lower Your Tax Bill

As the year draws to a close, many taxpayers look for ways to reduce their tax liabilities and maximize savings…

4 weeks ago

Employment Tax Mistakes That Trigger IRS Penalties

Employment taxes are a critical part of a business's tax obligations. When employers fail to properly calculate, report, or remit…

4 weeks ago

Education Tax Credits: AOTC vs LLC Explained

Education-related expenses can be a significant burden for students and their families, but the U.S. tax code offers several tax…

4 weeks ago

Economic Nexus Thresholds by State: 2025 Update

In the wake of the 2018 Supreme Court decision in South Dakota v. Wayfair, Inc., states gained the authority to…

4 weeks ago

Do You Need to File a Tax Return? Minimum Income Requirements

Understanding when you are required to file a tax return is crucial for ensuring compliance with U.S. tax laws. While…

4 weeks ago

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