Know This
Texas is a community property state. If the only owners of the LLC partnership are the married couple they do not need to file the information return for partnerships. All of the income and expenses go directly to their 1040 at the end of the year. They do, however, need to file the Franchise tax return with the Secretary of State like any other LLC entity. And that's true even if it's a Sole Propietor LLC
Before you buy into solar pannels know this: The credit is only up to 30% of your total cost. Example: if you pay $30,000.00 for the solar pannels you can only deduct 30% or $9,000.00 on your tax return. But this deduction is limited to your tax liability, which could be much lower than $9,000.00, and dependes on your taxable income. Example: if your tax liability is $1,500.00 then you can deduct $1,500.00 this year and leave the other $7,500.00 for future years. Get all the facts before making any large investment or purchase.
Recents scams have been getting information from Bank Of America customers. Make a police report and ask for your money back from the bank.
Here's some info on this year's tax rules.
Your property taxes may just drop this year and you can thank Governor Greg Abbott for it.
You may qualify to receive this benefits if you need help paying for health insurance. Follow the link to see if you qualify.
To qualify you must buy it for your own use, not for resale, and use it in the US. That's it!!
If you take care of your children or other dependents, you can get up to $500 per dependent if you qualify
If you have a child under the age of 17 you may receive up to $2000 per child if you qualify
If you haven't receive your W2 or 1099, call the IRS at 800-829-1040 they will help you get it.
If you are itemizing deductions you may need to find the sales tax for your location.