What makes a qualified dividend qualified?
To qualify for the qualified dividend rate, the payee must own the stock for a long enough time, generally 60 days for common stock and 90 days for prefer...
What is the penalty for not paying back taxes?
The failure to pay penalty starts at 0.5% of your balance due per month (capped at 25% of the back taxes you owe). The interest rate for underpayment of t...
What does the C stand for in 501c?
tax-exempt Key Takeaways. Section 501(c) of the Internal Revenue Code designates certain types of organizations as tax-exempt—they pay no federal income t...
What to do if you get a phone call from the IRS?
Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe. Require you to use a specific payment meth...
How do you fix ending inventory errors?
Inventory errors are usually two-period errors, because the ending inventory of one period is the beginning inventory of the next. To fix inventory errors...
Should I contribute more than the match to my 401k?
If you have a 401(k) at work and your employer offers a match, you should always invest enough in the 401(k) to claim the full match. If you don’t, you’re...
How do you transfer stock from a custodian?
A stock power form formally instructs your broker to transfer ownership from the custodian to you. This form requires information, such as your full name,...
How long do funds have to stay in a 529 plan?
A 529 plan account owner is not required to take a distribution when the beneficiary reaches a certain age or within a specified number of years after hig...
Do I have to include my 1098 on my tax return?
No, you don’t have to actually file Form 1098—that is, submit it with your tax return. You only have to indicate the amount of interest reported by the fo...
Is there a delay in paying state pensions?
Your State Pension will increase every week you defer, as long as you defer for at least five weeks. Your State Pension increases by the equivalent of one...
