Consider capital gain distributions as long-term capital gains no matter how long you’ve owned shares in the mutual fund. Report the amount shown in box 2...

You can’t ‘incorporate’ as an S corporation. To become one, you have to apply to the IRS. S corps report their income to the IRS on Form 1120S. Can an S c...

How is stipend or fellowship income treated for tax purposes? Both are usually tax-exempt, as long as you use the money for tuition, fees, books, supplies...

Late payment penalties are charged when tax remains unpaid for 30 days, 6 months and 12 months after the payment due dates. You can avoid the penalties if...

So, if you’re buying a house for $100,000: A 3.5 percent down payment translates to $3,500. A 20 percent down payment translates to $20,000. What is 20% d...

A stay bonus agreement, also referred to as a retention bonus agreement, is a written agreement between a company and a key employee to induce the employe...

A domain name is a unique name that allows users to access a website without using the website’s Internet Protocol (IP) address. In this guidance, the Dep...

When a TRS retiree dies, the designated beneficiary is entitled to receive a lump sum survivor benefit payment of $10,000. This benefit is payable on the ...

Jointly owned assets will usually be split between you 50/50 or in accordance with any agreement you have made. Money or property in your partner’s sole n...

In California, the transfer of real estate from one party to another is usually done through updating the grant deed for your home. You can prepare a new ...