TTL Tools/Processes
This tab within an engagement will give us information about our customer's other interactions with TTLive this year and prior years.
What is "History"?
Regardless of where they are stationed, a military member's state residence for tax purposes is this location.
What is "Home of Record"? (HOR)
State of residence when they joined the military.
At a whopping 13.3%, this state has the highest marginal income tax rate in the US for 2023.
What is California?
Hawaii is second at 11%, New York is third at 10.9%
This "Engine" will give you details about a customer's e-file submission.
What is the Electronic Filing Engine? (EFE)
This is the standard deduction for a single taxpayer in 2023.
What is $13,850?
In 1705, in an attempt to modernize Russia, Peter the Great implemented a tax on these.
What are beards?
We can't prepare Full Service returns for taxpayers who filed this type of tax return last year, filed by nonresident aliens engaged in a trade or business in the US.
What is 1040-NR?
(U.S. Nonresident Alien Income Tax Return)
This "salty" deduction was capped at $10,000 by the Tax Cuts and Jobs Act (TCJA) for the years between 2017 - 2025.
What is the State And Local Tax Deduction? (SALT)
In 1913, Congress reintroduced the income tax with this Constitutional Amendment.
What is the 16th Amendment?
This telephony option should never be used due to the unpleasant recorded message the customer hears on repeat.
What is "Hold"?
("You are on Hold"... Use "Mute" instead)
You might be eligible for this exclusion if you are a bona fide resident of another country.
What is the Foreign Earned Income Exclusion?
(Foreign Housing Exclusion is also acceptable)
This music legend famously recorded an album whose proceeds were exclusively used to pay his outstanding tax debt. The album was titled "The IRS Tapes: Who'll Buy My Memories?".
Who is Willie Nelson?
This type of document can be listed under any of the income lines it contains.
What is 1099 Composite?
1099 Consolidated also acceptable
While most capital gains are taxed at a rate of 0%, 15%, or 20%, collectibles such as coins or art are taxed at this maximum rate.
What is 28%?
This notoriously mean real estate magnate was convicted of tax evasion in 1989 and ordered to prison on April 15, 1992. But she still had enough money after paying off the IRS to will $12 million to her dog when she passed away in 2007.
Who is Leona Helmsley?