Head of Household and taxes

In the following situations, indicate whether the taxpayer qualifies as a head of household. a. Allen is divorced from his wife. He maintains a household for himself and his dependent mother. b. Beth is divorced from her husband. She maintains a home for herself and supports an elderly aunt who lives in a retirement home. c. Cindy was widowed last year. She maintains a household for herself and her dependent daughter, who lived with her during the year. d. Dick is not divorced, but lived apart from his wife for the entire year. He maintains a household for himself and his dependent daughter. He does not receive any financial support from his wife.

Tax- Discussion Question

a. What determines who must file a tax return? b. Is an individual required to file a tax return if he or she owes no tax?

Completing Form 1040 using Schedule A

John R. Lane (SSN 123-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single taxpayer, age 66, provided 100% of his cousin’s support. The cousin lives in Arizona. He wants to take advantage of the presidential election campaign check-off. John is an accountant. Other relevant information includes Salary $20,000 Taxable pension 31,000 Interest income 300 IRA deduction 3,000 Itemized deductions (from Schedule A) 6,000 Withholding 7,000 Assume that Schedule A, if necessary, has already been completed. Complete Form 1040.

What’s the difference between physical presence nexus and economic nexus?

What’s the difference between physical presence nexus and economic nexus?

S corporation vs. C corporation, pros and cons of each.

What are the pros and cons of a S corporation vs. a C corporation.