For tax purposes, the allocation generally must follow the economics and all tax items must be allocated to partners. Your partnership interest changes du...

This is because social security benefits based on age and service are not payable before age 62 and social security disability benefit entitlement require...

There are several different types of deposit accounts including current accounts, savings accounts, call deposit accounts, money market accounts, and cert...

It is OK, as long as you have filed and entered your payment information by or before the filing date (April 18, 2016) there is no penalty or interest. Wh...

But a Beneficiary can be any person or entity you choose to leave money or assets to. This can include nonprofit organizations and charities. What is a ch...

Using IRS Form 8829 Part I of Form 8829: You calculate the part of your home used for business. For most businesses, you simply divide the total square fo...

The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a ret...

Is the Colorado Sales Tax Destination-Based or Origin-Based? Colorado is a destination-based sales tax state, which means that sales tax rates are determi...

Are Hair Stylists Independent Contractors? If you work from home or own your own salon, you’re definitely a self-employed independent contractor. Can I fi...

To correct a 941 Quarterly Federal Tax Return that has already been processed by the eFile Center, file the Form 941-X (Adjusted Employer’s Quarterly Fede...