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Accounting

Cash *********

Healthcare professional

Q. Hello, I live with my partner in a home that she owns herself and we are not married. I pay her rent monthly and my question is could she turn her home into a rental property and have me be a tenant paying the rent to get some tax/business benefits? Thank you, Cash

Contemplating the idea of transforming your partner's house into a rental property? Your partner would need to declare the rental income and could potentially benefit from tax deductions. Renters who use the space for business purposes might be able to deduct their rental payments as well. For personalized advice, it's recommended to consult with a tax professional.

Cash *********

Healthcare professional

Q. Hello, I know you can do a 1031 exchange with a investment property. My question is how can you make that happen with a home that is currently your primary home? Do you simply have to live somewhere else for a certain time period to have that home no longer be designated the primary home? Thank you!

If your primary residence is already established, it is not recommended to utilize a 1031 exchange for converting it into an investment property. We hope this information clears up any confusion. - Team FlyFin

Andrew ****

Freelance software developer

Q. My friend is working for Remotasks as software developer which gives him a 1099 form (and he pays tax on that). He doesn't have a PayPal account (which is the form of payment they pay out in) and can't create one, so he wanted to use mine. Would I still pay tax on PayPal?

Should your friend employ your PayPal account for receiving payments, you might face tax liabilities on that income in the absence of their reporting. Sharing a PayPal account for income entails financial and tax ramifications. For professional tax support as a 1099 filer, contemplate using FlyFin for expedited filing, heightened savings, optimal refunds, precise filing, and punctual submission.

Karen ******

Seller (Online or independent seller)

Q. I am sole Proprietor who owns a Leadership Coaching/Training business. I took over a colleagues business 1/1/23. The agreement for the purchase of this business is that I pay a quarterly commission to the colleague for assessment products that I acquired from her business. I sent her a 1099 MiSC. Where does this amount go on my Schedule C? Does it get recorded in Part 2, line 10 Commissions and Fees?

The amount should be entered on Part 2, Line 10 under Commissions and Fees on Schedule C.

Rabia

Freelance marketer

Q. I would like to know which forms I need to file for tax déclaration as a freelance marketer. My company is registered in Wyoming and I bill my hourly fee and extra costs I spent such as flight tickets to the companies. I don’t want to pay tax on the costs.

Schedule C can be used to declare freelance income and expenses, leaving out reimbursed costs to prevent taxation on those expenses. Best, FlyFin Team.

Sarath

engineer

Q. I had a rental in California in which we evicted the tenant in November of last year. We are making repairs/improvements to the tune of about 50K. We plan to make it our primary residence till the end of this year or into early next year. We plan to rent it out again at some point in the near future and that can be either this year or next year. My question is the 50K we spend on it to get it fixed, can we use that as deductible towards our taxes if are only able to rent it out next year

Indeed, the $50,000 spent on repairs for your California rental property can be deducted in the tax year it was incurred, even if the property is not immediately rented out. If the expenses include improvements that increase the property's value, they are typically capitalized and depreciated over time. If you have no reportable income this year, you can carry forward these expenses to offset future income when you decide to rent out the property. Remember to consult with a tax professional for personalized advice.

Cash *********

Healthcare professional

Cash *********

Healthcare professional

Andrew ****

Freelance software developer

Karen ******

Seller (Online or independent seller)

The amount should be entered on Part 2, Line 10 under Commissions and Fees on Schedule C.

Facts and figures about
Unicoi County, Tennessee

An illustration of Unicoi County in Tennessee

17,698

County Population

Erwin

County Seat

186 sq mi

County area

9.75%

Unicoi County sales tax rate

😵‍💫 1 Tennessee 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

Download now

Tennessee State Income Tax Rates & Brackets for 2023

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

SINGLE FILER

Brackets

Rates

n.a

none

MARRIED FILING JOINTLY

Brackets

Rates

n.a

none

Filing Status

Standard Deduction Amt.

Single

n.a.

Couple

#VALUE!

Unicoi county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Erwin

9.75%

Erwin

Unicoi

9.75%

Unicoi

Flag Pond

9.75%

Unicoi

Frequently Asked Questions

How does online tax filing in Unicoi County Tennessee work?

What does CPA mean in Unicoi County Tennessee ?

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

What exactly does a Unicoi County Tennessee CPA do?

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

What makes Smart CPAs different?

FlyFin's CPA team is made up of small business tax professionals who are experts in Unicoi County Tennessee taxes. They bring over 100 years of combined experience to the table. While the FlyFin app leverages sophisticated A.I. to find every possible Unicoi County Tennessee tax deduction, FlyFin CPAs provide guidance, tax preparation and Unicoi County Tennessee tax filing services directly through the app to freelancers, W-2 employees, independent contractors, self-employed individuals and small businesses in Unicoi County Tennessee. The CPA team helping FlyFin users save $3,700 on average on their taxes works with both 1099 Unicoi County Tennessee tax deductions for self-employed individuals in Unicoi County Tennessee and W-2 tax deductions for employees working in Unicoi County Tennessee, as well as with every personal tax deduction a client can take in Unicoi County Tennessee. Taxes for a freelancer, independent contractor or a business owner in Unicoi County Tennessee, 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 Unicoi

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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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Expert tax CPAs ensure 100% accurate tax filing

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A.I. finds every tax deduction eliminating 95% of your work

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On average users save $3,700

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