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CMA Part 1 Notes

𝗠𝗜𝗦𝗦𝗘𝗗 𝗔𝗠𝗢𝗥𝗧𝗜𝗭𝗔𝗧𝗜𝗢𝗡 – 𝗪𝗛𝗔𝗧’𝗦 𝗧𝗛𝗘 𝗦𝗢𝗟𝗨𝗧𝗜𝗢𝗡?

Last week, while reviewing a client’s books, I noticed something surprising. For several years, the […]

Form 1099-MISC vs. Form 1099-NEC

Both forms are used to report non-wage payments, but they serve different purposes after the […]

Form 1099-G – Certain Government Payments (Unemployment Benefits)

Form 1099-G is issued by federal, state, or local governments to taxpayers who received certain […]

Form W-2 – Wage and Tax Statement (Summary of Wages/paycheck)

orm W-2 is an IRS tax form that employers must provide to employees each year. […]

𝗠𝗼𝘀𝘁 𝗹𝗮𝗻𝗱𝗹𝗼𝗿𝗱𝘀 𝗺𝗶𝘀𝘀 𝘁𝗵𝗶𝘀 𝘀𝗺𝗮𝗹𝗹 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗘 𝗱𝗲𝘁𝗮𝗶𝗹 & 𝗶𝘁 𝗰𝗮𝗻 𝗰𝗼𝘀𝘁 𝘁𝗵𝗼𝘂𝘀𝗮𝗻𝗱𝘀

If you own rental property and report it on Schedule E, here’s something that slips […]

“From 95-5 to 100-0!” – What I Learned From a Real 1065 Return Today

While observing a partnership return (Form 1065), I came across an interesting twist: 👤 Partner […]

𝗗𝗶𝗱 𝗬𝗼𝘂 𝗞𝗻𝗼𝘄 𝗧𝗵𝗮𝘁 𝗖𝗹𝗮𝗶𝗺𝗶𝗻𝗴 𝗮 𝗗𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗣𝗮𝗿𝗲𝗻𝘁 𝗖𝗼𝘂𝗹𝗱 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗹𝘆 𝗙𝗹𝗶𝗽 𝗬𝗼𝘂𝗿 𝗧𝗮𝘅 𝗙𝗶𝗹𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆?

Most married taxpayers file jointly (MFJ) thinking it’s always the best route. But here’s something […]

𝐅𝐨𝐫𝐦 𝟐𝟓𝟓𝟓 𝐯𝐬. 𝐅𝐨𝐫𝐦 𝟏𝟏𝟏𝟔

𝐂𝐨𝐧𝐟𝐮𝐬𝐞𝐝 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐅𝐨𝐫𝐦 𝟐𝟓𝟓𝟓 𝐚𝐧𝐝 𝐅𝐨𝐫𝐦 𝟏𝟏𝟏𝟔? 𝐇𝐞𝐫𝐞’𝐬 𝐚 𝐪𝐮𝐢𝐜𝐤 𝐛𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧 𝐭𝐨 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐜𝐡𝐨𝐨𝐬𝐞 […]

1065 Filing Tip: Don’t Misread the “Small Partnership” Exception

If you’re preparing partnership tax returns (Form 1065), there’s one question that trips up many […]