In order to claim a federal tax refund for a deceased person, you may need to file Form 1310. I’ll answer some common questions about requesting a tax refund due to a deceased taxpayer and point out some details and related tax forms that are sometimes overlooked.
If you’re using QuickBooks Online as your bookkeeping tool, but you’re not keeping track of your fixed assets, you’re missing an important step in helping reduce your tax burden. This article includes step-by-step instructions on how to record fixed assets in QuickBooks Online.
The IRS cycle code is an eight-digit number that you can find on your online tax transcript once your return has been posted to the IRS Master File. If you see a cycle code along with transaction code 150, you’ll know that your tax return is being processed.
If you’ve noticed Code 570 and Code 971 on that transcript and are wondering what those codes mean for you and your money, today I’ll explain all of the possibilities for you.
In the United States, we have a progressive tax system based on tax brackets. How these tax brackets work is something that is commonly misunderstood. In today’s article, I will explain how tax brackets affect you so you’ll have the…
Step-by-step instructions on how to reach a real person at the California Franchise Tax Board.
This article explains an S-Corporation basis and why it’s an important number to keep your eye on as a small business owner.
No one wants to be audited by the IRS, especially small business owners. Sometimes an audit is conducted at random and can’t be avoided, but most times, there are steps you can take to avoid landing under the auditor’s microscope….
My passion is teaching small business owners to understand their taxes while also helping them maximize their profits by reducing their tax burdens. In today’s post, I hope to do both of those things by explaining the magic QBI 28.57%…
The IRS refund process is explained, including the time and days that refunds are deposited.
