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I'm A Chemical Engineering Student At UW Madison And Doing A Co-op In Michigan. Will I Be Paying MI Taxes AND WI Taxes? What's A Rough...
User Photo Dan Selner
Tax Professional Level: Tax Enthusiast

Full time (40 hours per week) at about 30 weeks would give you $24,000 in income. Assuming standard deductions and that you are a dependent of your parents (which may NOT be the case, based on this income), I...   Read More
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We Have Been Using The Same Tax Person For About 10 Years. It Seems Recently That The Cost In Doing Our Taxes Has Gone Up Significantly In...
User Photo Dan Selner
Tax Professional Level: Tax Enthusiast

The "going rate" generally depends upon two items: The complexity (size) of your tax return (i.e. the more pages, the higher the cost) and how well organized you are. If you are paying your accountant to add up...   Read More
What Is The Difference Between A Limited Liability Corporation( LLC) And A Partnership?
User Photo Dan Selner
Tax Professional Level: Tax Enthusiast

The a partnership, you do not have a choice on how the business is taxed. With an LLC, it can be taxed in several ways: partnership, S-Corp or Corporation. The method you choose will affect how the business is...   Read More
What Is The Best Method To Use When Reporting Rental Income? Should I Use Cash Basis Or An Accrual Method?
User Photo Dan Selner
Tax Professional Level: Tax Enthusiast

Cash basis is generally the better method, depending upon your entire tax situation, of course. Cash basis means you only declare the income when received. That way you are not paying tax on rents owed but not...   Read More

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