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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?
Living in Sweden as a U.S. citizen mandates the annual filing of a U.S. tax return, disclosing global income.
Mia
Seller (Online or independent seller)
Q. I and my 3 children left my domestic violent husband on July 18, 2023. The final divorce decree hasn't been awarded yet. There's a mediation scheduled April 1, 2024. As that's 5.5mos of the year - who claims the children? AND, can both of us claim Head of Household on our individual tax returns? Thanks, Mia
Your patience is greatly appreciated. In regards to claiming dependents, it is typically outlined in the divorce decree or custody agreement. To qualify for Head of Household status, you must be unmarried or considered unmarried, pay more than half the cost of keeping up a home, and have a qualifying dependent living with you for more than half the year. If you meet these conditions, you may be eligible to claim Head of Household status. Feel free to reach out for further assistance. - Team FlyFin
Raul *****
restuarant owner
Q. hi I have a restuarant set up as an s corp. I hired a floor contractor to put a floor in my business and paid him 39k. The contractor did not finish the job. We sued them but duiring the process the contractor passed away. were awarded an arbitration award but the contractor passed away with no assets. Where can they recorde this on business taxes as an expense?
Reporting the $39K loss from the incomplete floor contractor as a bad debt on your S-Corp tax return is advisable.
Stephanie
Artist
Q. My business partner and I have a 50/50 general partnership. What we do is we each make our own individual art and then sell it on our website and at art festivals. We found out the hard way that our incomes/expenses are merged when filing our taxes. Does a general partnership make sense for us or is there a better way?
It is recommended to consider forming separate single-member LLCs for your individual art ventures instead of a general partnership. This will allow you to manage your income, expenses, and taxes independently.
Carleah ******
Seller (Online or independent seller)
Q. Hello, May I ask a simple question about my business? I have been in business for about 3.5 years now, and my LLC is in North Carolina. The LLC has been dissolved for quite some time, and during the past two years I have been in Virginia. I have found much success after my business has been hacked and I will be paying to resolve my LLC. Before I do, I am wondering should I resolve my NC LLC or make a new one in Virginia? I have done two years of business of tax returns from North Carolina and all my accounts (shopping accounts, Shopify, Etsy, Ebay and Amazon) all have my NC LLC. It wouldn't be a big deal to change the LLC on these accounts, but I wanted to run this by an accountant before making my final decision regarding what LLC I should move forward with. Thank you!
Sure thing. "Thinking of transitioning your NC LLC to Virginia? Please confirm if it's a single or multi-member business. - Team FlyFin"
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?
Earnings listed on a 1099-K are eligible for self-employment taxes. In the case that you hold a charity fundraiser and contribute all earnings to a qualified charitable group, you may be able to deduct the donation from your taxable income. This has the potential to lower your tax responsibility.
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?
Living in Sweden as a U.S. citizen mandates the annual filing of a U.S. tax return, disclosing global income.
Mia
Seller (Online or independent seller)
Q. I and my 3 children left my domestic violent husband on July 18, 2023. The final divorce decree hasn't been awarded yet. There's a mediation scheduled April 1, 2024. As that's 5.5mos of the year - who claims the children? AND, can both of us claim Head of Household on our individual tax returns? Thanks, Mia
Your patience is greatly appreciated. In regards to claiming dependents, it is typically outlined in the divorce decree or custody agreement. To qualify for Head of Household status, you must be unmarried or considered unmarried, pay more than half the cost of keeping up a home, and have a qualifying dependent living with you for more than half the year. If you meet these conditions, you may be eligible to claim Head of Household status. Feel free to reach out for further assistance. - Team FlyFin
Raul *****
restuarant owner
Q. hi I have a restuarant set up as an s corp. I hired a floor contractor to put a floor in my business and paid him 39k. The contractor did not finish the job. We sued them but duiring the process the contractor passed away. were awarded an arbitration award but the contractor passed away with no assets. Where can they recorde this on business taxes as an expense?
Reporting the $39K loss from the incomplete floor contractor as a bad debt on your S-Corp tax return is advisable.
Stephanie
Artist
Q. My business partner and I have a 50/50 general partnership. What we do is we each make our own individual art and then sell it on our website and at art festivals. We found out the hard way that our incomes/expenses are merged when filing our taxes. Does a general partnership make sense for us or is there a better way?
It is recommended to consider forming separate single-member LLCs for your individual art ventures instead of a general partnership. This will allow you to manage your income, expenses, and taxes independently.

Facts and figures about
Hill County, Texas

texas
population

36,471

County Population

population

Hillsboro

County Seat

population

962 sq mi

County area

population

8.25%

Hill County sales tax rate

😵‍💫 1 CPA for every 300 people in Texas = high CPA charges

😓 19 million Americans missed the tax filing deadline last year

😨 30 million people miss tax deductions without expert help

😣 Almost 50% of Americans end up overpaying

Download now

Texas State Income Tax Rates & Brackets for 2023

The following tables represents Texas'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!

Hill county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Hillsboro

8.25%

Carl's Corner

Whitney

8.25%

Whitney

Itasca

8.25%

Itasca

Hubbard

8.25%

Hubbard

Covington

8.25%

Covington

Blum

8.25%

Blum

Abbott

8.25%

Hill

Aquilla

8.25%

Aquilla

Mount Calm

8.25%

Mount Calm

Bynum

8.25%

Bynum

Irene

7.75%

Hill Co Esd 2A Sp

Malone

8.25%

Malone Mdd Sp

Brandon

7.75%

Hill Co Esd 2A Sp

Mertens

8.25%

Mertens

Penelope

8.25%

Penelope

Frequently Asked Questions

How does online tax filing in Hill County Texas work?

How is a CPA defined in Hill County Texas?

What exactly CPAs in Hill County Texas do?

What do FlyFin CPAs do?

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