What is severance tax in oil and gas?
Severance Taxes by State Thirty-four states have enacted taxes or fees on the extraction, production and sale of oil and natural gas. These “severance......
How do I report interest on a family loan?
The federal income tax results are straightforward if your loan charges an interest rate that equals or exceeds the AFR. You must report the interest ......
Can a married couple get a tax refund?
One exception exists to this general rule. if you file a joint married return with your husband and he owes taxes from before you were married, the IR......
Where is 1099-MISC reported on Schedule C?
When you report the income on a Schedule C, the program will automatically calculate your self-employment taxes for you. When you receive a 1099-MISC ......
When do you not receive a K-1 from a partnership?
Unfortunately, quite often such clients simply treat the prior year as “finished” once that return is filed by April 15 and simply ignore any K-1 that......
