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On January 15, 2010, the IRS released a new Form 5405 that eligible homebuyers need to claim the first-time homebuyer credit this tax season and announced new documentation requirements to deter fraud related to the first-time homebuyer credit. The new form and instructions follow the major changes to the homebuyer credit made by the Worker, […]
In this article, I will discuss five most important issues that you need to know before you sign a fee agreement with tax lawyers in Minneapolis. 1. How is the lawyer’s fee paid? There are three main models of payment that lawyers use: hourly fee, contingency fee, and flat fee. The hourly fee is the […]
In this article, I will discuss five most important issues that you need to know before you sign a fee agreement with business lawyers in Minneapolis. 1. How is the lawyer’s fee paid? There are three main models of payment that lawyers use: hourly fee, contingency fee, and flat fee. The hourly fee is the […]
Reporting Payments to Independent Contractors: Form 1099-MISC If you hire an independent contractor to do work for your business, you may have to report to the IRS your payments to him by filing Form 1099-MISC (Miscellaneous Income) if the following four conditions are met: 1. The payee is not your employee; 2. The payment was […]
If you changed your last name last year as a result of getting married or divorced, you need to make sure that the name on your tax return matches the name registered with the Social Security Administration (the “SSA”). This is because the new name which you adopted as a result of marriage (or an […]