by admin | Oct 31, 2022 | Bookkeeping
Make the election by filing Form 1041-T, Allocation of Estimated Tax Payments to Beneficiaries, by the 65th day after the close of the estate’s or trust’s tax year. Then, include that amount in box 13, code A, of Schedule K-1 (Form 1041) for any...
by admin | Mar 2, 2022 | Bookkeeping
The adoption of XBRL (eXtensible Business Reporting Language) for financial reporting has streamlined the process of data collection and analysis. XBRL allows for the tagging of financial data, making it easier for regulators, analysts, and investors to access and...
by admin | Feb 2, 2022 | Bookkeeping
The platform also offers tools for securely and efficiently managing and storing important documents, such as I-9s and W-4s. If benefits aren’t available in a state where you and your employees are based, you may want to consider companies that offer expanded benefits...
by admin | Sep 16, 2021 | Bookkeeping
This three-year rule applies to most tax-related documents, including receipts, bank statements, and W-2 forms. However, if you file a claim for a credit or refund after you’ve filed your original return, you should keep your records for three years from the date you...
by admin | Feb 2, 2021 | Bookkeeping
Ted’s investment income from interest and dividends (other than qualified dividends) is $10,000. If part of the amount you report is your child’s Alaska Permanent Fund dividends, that part does not count as investment income. To figure the amount of your...
