The IRS reject code IND-032-04 is one of the commonly came across error codes that actually has a simple solution. When e-filing your federal income tax return, you might get your tax return rejected with this code, and the reasoning for this is that the spouse’s adjusted gross income entered doesn’t match the IRS records. … Read more
Girl Scouts of the United States of America, or as we simply refer to them as Girl Scouts, is a youth organization for girls. It’s more than likely that you’ve seen their stands selling cookies and other forms of snacks at stands. It was first founded on March 12 of 1912, with the intention of … Read more
QuickBooks by Intuit is one of the most preferred accounting software used across all sizes of businesses. It’s well-designed and helpful accounting software that offers more than just accounting. There are plenty of reasons to use QuickBooks Online, such as importing accounting information to prepare federal, state, and local income tax returns right away, accepting … Read more
Form 1065 is the five-page-long income tax return for partnerships. The partnerships aren’t taxed separately from their owners. They are considered as pass-through tax entities that must file Form 1065 to report income and tax liability to the Internal Revenue Service. The instructions to file Form 1065 for the tax year is down below. The … Read more
Every taxpayer in the United States that earns income that isn’t subject to federal income tax withholding must pay taxes by making estimated tax payments. Since not everybody has an employer to withhold federal income taxes from their income, those that aren’t earning an income that’s subject to withholding must pay taxes by estimating them. … Read more
An Exchange Traded Fund is a type of security that tracks a commodity, index, sector, or other assets. The ETFs are traded just like stocks where you can buy and sell them on exchanges. While ETFs are a great way to invest, there are different types of them that you should keep in mind. Bond … Read more
An accounting method is a method used for reporting income and expenses on a federal income tax return. There are two main types of accounting methods and a taxpayer must use the same accounting method every tax season. If a taxpayer wishes to change the accounting method, they must seek permission from the Internal Revenue … Read more
Form W-2 is the Wage and Tax Statement every employer needs to file for each employee. When filing the form, Box 14 is a section that employers need to report certain information. If you’re reporting income or payment other than what’s reported on the boxes, you’ll need to enter it on Box 14 using the … Read more
If you’re looking to manage multiple user accounts in QuickBooks Enterprise Solutions (QBES), you’ll need to know how to set up user permissions. By creating unique roles for each user, you’ll be able to assign different access rights for each person. Create unique roles for each of your users If you are the administrator of … Read more
Form 5498, IRA Contribution Information is a useful tax form that’s issued by plan providers. The 5498 provides plenty of information about one’s IRA but it isn’t really used for tax purposes mainlyForm 5498 is basically an information return, but you aren’t required to attach it to your federal income tax return. Because IRA contributions … Read more