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Prem Tax & Accounting
About Prem Tax & Accounting
Certified Public Accountant. Full service CPA firm. Tax planning and preparation. New business formation. General accounting, bookkeeping, and payroll. Small business advisory services. Specialization : Small businesses, Individuals, Real estate, Not for profit organizations and associations, Multi-state and International taxes.
Reviews about Prem Tax & Accounting
Tax Return Preparation
I met Keshav Agrawal at his office in North Aurora, IL for 2011 taxes, My taxes included of stock options (RSU) grant and income from rental property and filing for two states. He was very patient, took time to understand my situations, asked questions which made sense. Best thing I liked about him was that he did not rush to prepare the return. Instead he took personal interest and time to complete the tax return. Highly recommended.
By Vivek S December 19, 2012 at 02:04 PMPhotos for Prem Tax & Accounting
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Prem Tax & Accounting Blog
AmeriCorps
Question: My child has joined AmeriCorps and has received an income statement. Are these payments taxable? Answer: Yes. AmeriCorps Education Awards and living allowances are taxable in the year they are paid. If you receive an award, you should receive a Form 1099-MISC, Miscellaneous Income. The 1099-MISC will show your award dollar amount in box-3 Other Income, with no withholding. Report these amounts on line 21 for Other Income on the Form 1040. Want more information about fili... READ MORE Posted September 19, 2013 at 03:55 PM1099-MISC, Independent Contractors, and Self-Employed
1099-MISC, Independent Contractors, and Self-Employed If payment for services you provided is listed in box 7 of Form 1099-MISC, you are being treated as a self-employed worker, also referred to as an independent contractor:* You do not necessarily have to “have a business,” but simply perform services as a non-employee to have your compensation treated this way.* The payer has determined that an employer-employee relationship does not exist in your case.* That determination... READ MORE Posted September 19, 2013 at 03:50 PMNewspaper Carrier or Distributor
Question: My son is a newspaper carrier. I would like to know if this income is subject to social security and Medicare taxes, and if I must file a Schedule C for him. Answer: Your son may be liable to pay into the Social Security and Medicare system by paying self-employment tax: Special rules apply to services a person performs as a newspaper carrier or distributor. A person is a direct seller and treated as self-employed for federal tax purposes if he or she meets the following conditions:... READ MORE Posted September 19, 2013 at 03:48 PMPrem Tax & Accounting Products
S Corporation Formation, Election, and S Corporation's Tax Returns
S corporations are corporations that elect to pass corporate income, losses, deductions and credi... More
From Prem Tax & Accounting
Not-for-Profit Organizations and Associations
We understand the accounting needs of non-profit organizations and associations. We can help ... More
From Prem Tax & AccountingPrem Tax & Accounting Newsletters
Prem Tax & Accounting Newsletter
Introduction Title:
Introduction Body READ MORE November 19, 2013 at 07:15 AM
Prem Tax & Accounting Newsletter
2013 Tax Season starts Jan 30. 2013. But some taxpayers will have to wait till late Feb and into March:
IRS Plans Jan. 30 Tax Season Opening For 1040 Filers.Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced toda... READ MORE January 08, 2013 at 07:13 PMPrem Tax & Accounting Connections
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