Who Pays Self-Employment Tax? Taxpayers pay SE tax when earnings from self-employment are $400 or more. A taxpayer is self-employed if he or she carries on a trade or business as a sole proprietor (including farmers) or as a general partner in a partnership. A trade or business generally is…

Keystone Tax Solutions ProWeb program supports the following Federal Forms. Forms indicated with a * are not listed in the form search and are produced as needed based on the information entered in the return. Form 1040 Individual Resident Tax Return Form 1040NR Individual Nonresident Tax Return  Form 1040-PR Self-Employment…

To upload a logo to your ProWeb / Account Hub, complete the following steps: Click the “Choose logo” button: A dialog box will display prompting you to select a file. Browse to the location where your logo file is stored. Select your logo file and click “Open” Size your image…

Household employees include housekeepers, maids, babysitters, gardeners, and others who work in or around your private residence as your employee.  Repairmen, plumbers, contractors, and other business people who provide their services as independent contractors, are not your employees.  Household workers are your employees if you can control not only the…

If you purchased the TaxBook Web Library, it can be accessed by clicking on the TaxBook Online link on the left side of the screen. If you do not see the icon at the top of the screen, try logging out of the program and logging back in. If the…

This article focuses solely on the entry of the Deduction items which are found on Boxes 11 and 12 of the Schedule K-1 (Form 1120-S) Shareholder’s Share of Income, Deductions, Credits, etc.  For additional information regarding the requirements for Schedule K-1 (Form 1120-S), see: Shareholder’s Instructions for Schedule K-1 (Form…

This article focuses solely on the entry of the Income (or Loss) items which are found on Lines 1 through 10 of the Schedule K-1 (Form 1120-S) Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items. For additional information regarding the requirements for Schedule K-1 (Form 1120S), see:…

Taxpayers may file IRS Form 8910, Alternative Motor Vehicle Credit to calculate and claim the credit. If the purchased vehicle is a depreciable asset used in a business, claim the credit as a General Business Creditand attach Form 3800. If the vehicle is not a depreciable asset, claim a personal tax credit attached to Form…

To enter the income items from a K-1 (Form 1120S) in Keystone Tax Solutions from the Main Menu of the Tax Return (Form 1040) select: Federal Section Income Menu Other Income K-1 Earnings – Select ‘Begin‘ next to Schedule K-1 (Form 1120S) See below basic information on each line of…

Form 1099-DIV is used to report dividends and certain other distributions to investors/taxpayers. Dividends are distributions of property by a corporation to the shareholder or owner of the corporation out of the earnings or profits of the corporation. Dividends are typically paid in the form of cash but may be…