What is a consolidated 1099-DIV?
The Consolidated Form 1099 combines five separate 1099 forms into one. It covers reportable income and transactions for the tax year, from interest income...
Published: Jan 20, 2026
What is a 100% subsidiary?
A wholly-owned subsidiary is a corporation with 100% shares held by another corporation, the parent company. Although a corporation may become a wholly-ow...
Published: Jan 20, 2026
Does SSI need to be reported on taxes?
Supplemental security income (SSI) payments are NOT taxable, and thus do not need to be reported on your tax return. See IRS Publication 915 Social Securi...
Published: Jan 20, 2026
When can a property owner deduct depreciation for tax purposes?
Depreciable property To take a deduction for depreciation on a rental property, the property must meet specific criteria. According to the IRS: You must o...
Published: Jan 20, 2026
What does a salary package include?
Salary packages typically include your base salary as well as additional benefits, incentives or rewards, such as superannuation, annual and sick leave, c...
Published: Jan 20, 2026
How many years do you need to keep old income tax returns?
3 years Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a...
Published: Jan 20, 2026
Will I receive a 1099-K tax form from Etsy?
Etsy, like other marketplaces, is required by US law to send out a 1099-K tax form. A 1099-K form from Etsy reports the total gross sales income you recei...
Published: Jan 20, 2026
Is balance sheet prepared for a time period in question?
A balance sheet provides a snapshot of a business’ health at a point in time. It is a summary of what the business owns (assets) and owes (liabilities). B...
Published: Jan 20, 2026
Can you claim business losses?
If you have a sole proprietorship, partnership, LLC, or S-corp, you can claim some of your business losses on your personal taxes. However, the IRS does n...
Published: Jan 20, 2026
Does cohabitation before a remarriage improve ones likelihood of having successful remarriage?
Younger adults are particularly likely to see cohabitation as a path to a successful marriage: 63% of adults younger than 30 say couples who live together...
Published: Jan 20, 2026