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David *****

Freelance Designer

Q. Hello - I have 2 rental properties. One is my domicile rented 2 months of the year that makes a net profit. The other is a vacation property that was rented 189 days and used 28 days that had a net loss. Can that net loss be used to offset the other net profit? Turbotax keeps returning a zero net profit rather than a loss. Thank you

You have the ability to offset the net profit from your domicile rental with the net loss from your vacation property for tax purposes.

Ari *******

Babysitter

Q. Hi there, my profession was not listed above, so I put babysitter. I'm a teacher who used to tutor on the side for years. The earnings were so small for tutoring that I just did it under table, without paying taxes. But, I recently got an LLC to start a tutoring business. One of my private tutoring clients will be a client for my tutoring business. Will this put me at risk with the CPA? I imagine that they will audit by new business, and notice my personal earnings from the private tutoring from the same client.

Transitioning from casual to formal tutoring via an LLC is a positive move. Make sure to declare all personal and business earnings to avoid tax implications. Keep accurate documentation to prevent red flags during IRS audits. Need help with tax filing? FlyFin offers stress-free tax preparation with IRS audit insurance for peace of mind. Contact us now for a seamless experience.

Dan ******

Freelance marketer

Q. I have an individual 401K and I'm filing out Form 5500-EZ. On Part III, Line 7 the instructions say to include cash contributions "received and/or receivable" during the plan year. I interpret that to mean I should include contributions made in 2024 for tax year 2023, but I'm not sure.

Form 5500-EZ, Part III, Line 7 allows for contributions made in 2024 for the tax year 2023.

Lexi

Event planner

Q. Hi! I’m wondering how 1099 Ks will be taxed in 2024. I host a fundraiser through eventbrite and we will raise about 5k or more. This used to be outside the taxable limit, but know I know that it’s going to be lower. If I donate all the money (since it’s a fundraiser) am I still taxed?

Income reported on a 1099-K is subject to self-employment taxes. Should you host a charity fundraiser and donate all profits to a recognized charitable organization, you might be eligible to deduct the donation from your taxable income. This could potentially reduce your tax liability.

Goran ***********

Artist

Q. I am retired and I receive a Social monthly security payment of about 1900USD. I have moved to Europe and live in Sweden since 2010. I have a job that I pay tax for in Sweden. From what I know US and Sweden have an agreement about double taxation. How do I file my taxes?

The expert CPA team at FlyFin can assist you in seamlessly filing your taxes.

Moussa

Seller (Online or independent seller)

Q. I am looking to get paid online and hence I am setting up a company in Delaware as an LLC to be able accept payment online. Stripe offers ATLAS services to set up a company and do the paperwork. I would like to know as a non resident, owner of an LLC in Delaware do I pay any taxes if I am setting up this company?

As a non-resident owner of an LLC in Delaware, you must pay federal income taxes on any income earned in the US by your LLC, regardless of where you live.

David *****

Freelance Designer

You have the ability to offset the net profit from your domicile rental with the net loss from your vacation property for tax purposes.

Ari *******

Babysitter

Dan ******

Freelance marketer

Form 5500-EZ, Part III, Line 7 allows for contributions made in 2024 for the tax year 2023.

Lexi

Event planner

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Facts and figures about
Presque Isle County, Michigan

An image showcasing Presque Isle County in Michigan

13,093

County Population

Rogers City

County Seat

2,573 sq mi

County area

Presque Isle County sales tax rate

😵‍💫 1 Michigan CPA for every 300 residents results in high CPA rates

😓 19 million taxpayers missed the filing deadline last year

😨 30 million taxpayers miss deductions without the right tax expert

😣 Almost 1/2 of all Americans pay more tax than necessary

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Michigan State Income Tax Rates & Brackets for 2023

The following tables represents Michigan's income tax rates and tax brackets:

SINGLE FILER

Brackets

Rates

$0+

4.25%

MARRIED FILING JOINTLY

Brackets

Rates

$0+

4.25%

Filing Status

Standard Deduction Amt.

Single

n.a.

Couple

#VALUE!

Presque Isle county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Rogers City

Presque Isle

Onaway

Presque Isle

Posen

Presque Isle

Millersburg

Presque Isle

Hawks

Presque Isle

Frequently Asked Questions

How does online tax filing in Presque Isle County Michigan work?

What does CPA mean in Presque Isle County Michigan ?

Certified public accountants, or CPAs, in Presque Isle County Michigan are tax professionals with the right education and experience to help Presque Isle County Michigan taxpayers prepare and file their taxes. They have a license issued by the Presque Isle County Michigan state board of accountancy. Accountants in Presque Isle County Michigan have to pass a rigorous exam called the Uniform CPA Exam. In addition to helping individuals prepare taxes, Presque Isle County Michigan CPAs work in positions as public or corporate accountants, and many executives with titles like Controller or Chief Financial Officer are also CPAs. Presque Isle County Michigan CPAs are the tax professionals who are most familiar with the Presque Isle County Michigan self-employment tax rate, income tax rate, property tax rate and every major and minor tax regulation in Presque Isle County Michigan that could affect their clients tax situation. A good Presque Isle County Michigan CPA is a walking encyclopedia of tax information at both the Presque Isle County Michigan level and federal level.

What exactly does a Presque Isle County Michigan CPA do?

The role of a Presque Isle County Michigan CPA is to act as a trusted financial advisor to every taxpayer who is their client. A CPA in Presque Isle County Michigan should be able to answer any possible tax question their client may have, no matter what their tax situation may be. CPAs in Presque Isle County Michigan should have the experience and expertise to prepare all the documents taxpayers are required to file in Presque Isle County Michigan with 100% accuracy.

What makes Smart CPAs different?

FlyFin's CPA team is made up of small business tax professionals who are experts in Presque Isle County Michigan taxes. They bring over 100 years of combined experience to the table. While the FlyFin app leverages sophisticated A.I. to find every possible Presque Isle County Michigan tax deduction, FlyFin CPAs provide guidance, tax preparation and Presque Isle County Michigan tax filing services directly through the app to freelancers, W-2 employees, independent contractors, self-employed individuals and small businesses in Presque Isle County Michigan. The CPA team helping FlyFin users save $3,700 on average on their taxes works with both 1099 Presque Isle County Michigan tax deductions for self-employed individuals in Presque Isle County Michigan and W-2 tax deductions for employees working in Presque Isle County Michigan, as well as with every personal tax deduction a client can take in Presque Isle County Michigan. Taxes for a freelancer, independent contractor or a business owner in Presque Isle County Michigan, for example, can be especially tricky, and FlyFin CPAs can answer any question they may have, from the write-offs they qualify for to how much their quarterly estimated tax payments should be.

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Ask a CPA in Cities of Presque Isle

Ask a CPA in Millersburg Ask a CPA in Onaway Ask a CPA in Posen Ask a CPA in Presque Isle Harbor Ask a CPA in Rogers City

Why does FlyFin offer Smart CPAs?

FlyFin was developed for freelancers, gig workers, independent contractors and sole proprietors because they're responsible for so much more when it comes to taxes and are more in need of expert tax advice than perhaps any other kind of taxpayer. With a robust artificial intelligence, FlyFin tracks business expenses automatically for self-employed individuals and identifies every possible tax-saving write-off. FlyFin also makes it possible for any kind of taxpayer to file taxes and leave 95% of the work to FlyFin CPAs. They prepare tax returns with guaranteed 100 percent accuracy, saving taxpayers time and money. By downloading the FlyFin app, they can complete the process of getting their taxes in fewer than 15 minutes.

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