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Will my college student need to file a tax return?

Are you a college student? Are you muddled if you have to file a tax return? For a few college students, tax filing is mandatory, while for others non-compulsory. Filing a tax by college students depends on factors such as dependency status, income, and other factors. Here are few details for college students to know if they need to file a tax return or no.    Determining filing status    Dependent and independent are the two main...

Best Ways to Manage Your Payroll Efficiently

Are you running a small business? Are you handling multiple aspects on your plate? Then, menial things such as payroll should not bother you if you are capable of managing it efficiently. Payroll management is one of the vital operations of any business. Payroll processing plays the chief role of dealing out employee paychecks, maintaining sufficient documentation, and complying with labor laws. For ones looking forward to maximizing the efficiency of a business, then you are on the...

How to safely share the road with semi-trucks? Tips to Share Road

Semi-trucks are vital for the economy of a country. The chief role of commercial and big rigs is transporting tons of goods across the country every year. While traveling in conjunction with large trucks, there are few safety threats for a driver.  Do you know that 75% of commercial vehicle accidents are due to passenger car drivers? Statistics also state that there were 4,657 fatal accidents in 2017 with semi-trucks involved. Hence to avert such accidents in...

The Latest Guidance on the Paycheck Protection Program

The CARES Act (Coronavirus aid, relief, and economic security act) that was passed on March 27, 2020, provides forgivable loans of about $10 million to qualifying small businesses under the paycheck protection program loan. We have addressed the latest considerations that are relevant to PPP borrowers and companies here. What is a paycheck protection program? The paycheck protection program is a loan that offers a direct incentive for small businesses and helps keep their workers on the...

Wisconsin DMV send a reminder on motor vehicles to file Form 2290 before plate renewal

Are you a trucker planning for plate renewal? Here is an update for your criteria. Take a peek into the latest details of filing form 2290 before plate renewal from Wisconsin.  Reminder about Motor vehicles The Wisconsin Section of the transportation division of motor vehicles prompts motor carriers getting ready for renewing their new heavy truck registration to first file IRS 2290 before heading to DMV for re-establishing license plates.  The agency is alerting drivers that renewal...

Top 10 Reasons Why You Should File Form 2290 with Tax2Efile

Form 2290 pertains to the heavy highway vehicle use tax returns. Owners of heavy vehicles can use the form to pay the tax dues of highway motor vehicles with a gross weight of 55,000 pounds or more. They also use this form to claim suspension from tax if the vehicle is expected to be used for 5000 miles or less. It also helps to claim credit for the tax paid on destroyed or stolen vehicles. The best...

What To Do After The IRS Sends You a 1099 Correction Notice

A 1099 Tax form is an information form that every taxpayer receives which is not basically a tax document that you need to fill. If an organization or a business or any government-based entity sends you any amount of money during the ongoing tax year that is reported on your taxes, you will receive a Form 1099. There are numerous kinds of 1099 forms that IRS consists of. For example, there is a form named 1099-DIV that...

1099 rules that can make/break this year

We have seen serious of changes or updates related to 1099 MISC Forms, over the years. These frequent changes in the 1099 rules have brought some confusion among the business owners, which led to incorrect filing, resulting in heavy IRS penalties. Hence, before filing the 1099 MISC form electronically, it becomes necessary to know the basic rules first. Read on the rest, to know more. Whom to send Form 1099 MISC? A business owner is liable to...

Need to Know More About Schedules for Form 1040

In this article, let us find the various schedules for Form 1040 and their uses to the tax payers. Check out the information for each schedule and apply accordingly. Form Schedule Form Description Form Information Form 1040 Schedule A Itemized Deductions Includes recent updates, related forms and instructions on how to file. Schedule A  is used by the tax filers to report their itemized deductions.   Form 1040 A or Form 1040 Schedule B Interest and Ordinary...