Can cash basis taxpayers deduct prepaid rent?
Generally speaking, prepaid rent can be deducted by a cash basis taxpayer in the year of payment so long as the lease agreement calls for rent to be prepa...
Published: May 02, 2026
How do I stop a garnishment FTB?
One option you can go for to stop FTB wage garnishment is to file for bankruptcy. When filing for bankruptcy, most or all of your assets will be liquidate...
Published: May 02, 2026
What is GST for restaurants?
GST Rates on Eating Out from 1st October 2019 S No Type of Restaurants GST Rate 1 Railways/IRCTC 5% without ITC 2 Standalone restaurants 5% without ITC 3 ...
Published: May 02, 2026
How do PEOs work?
The PEO processes payroll, withholds and pays payroll taxes, maintains workers’ compensation coverage, provides access to employee benefit programs, offer...
Published: May 02, 2026
Is there a certain day of the week the IRS deposits refunds?
IRS Refund Schedule for Direct Deposits and Check Refunds The IRS only issued refunds once per week under the old system. They now issue refunds every bus...
Published: May 02, 2026
Can you carry a business loss over to the next year?
If you operate a business that makes a loss you can generally carry forward that loss and claim a deduction for it in a future year. Can I carry forward m...
Published: May 02, 2026
How is interest calculated on Bir penalty?
– There shall be assessed and collected on any unpaid amount of tax, interest at the rate of twenty percent (20%) per annum, or such higher rate as may be...
Published: May 02, 2026
Can I give myself a 1099 from my LLC?
Yes, you can hire yourself as an independent contractor to perform work for your LLC. If you do that, the LLC would then issue you a Form 1099-MISC. Can y...
Published: May 02, 2026
Is employee embezzlement tax deductible?
If they stole it, you can deduct it. Blackmail, embezzlement, fraud, extortion, robbery, burglary – it’s all fair game under the IRS’ definition of theft....
Published: May 02, 2026
Is 10% annual bonus good?
What is a Good Bonus Percentage? A good bonus percentage for an office position is 10-20% of the base salary. Some Manager and Executive positions may off...
Published: May 02, 2026
