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FAQ

How do I fill out a 1120 tax report?
If you are not sophisticated with taxes, DON'T try this form. You can get yourself in a lot of trouble.  Get a good CPA or EA.  The time and effort it will take you to figure this thing out is not worth it. If you value your time at more than the minimum wage, you will save time and money by hiring a professional.
What are the good ways to fill out 1120 form if my business is inactive?
While you might not have been “active” throughout the year, by filing a “no activity” return you may be throwing away potential deductions!  Most businesses (even unprofitable ones) will have some form of expenses – think tax prep fees, taxes, filing fees, home office, phone, etc.  Don’t miss out on your chance to preserve these valuable deductions.  You can carry these forward to more profitable years by using the Net Operating Loss Carry-forward rules.  But you must report them to take advantage of this break. If you honestly did not have any expenses or income during the tax year, simply file form 1120 by the due date (no later than 2 and one half months after the close of the business tax year – March 15 for calendar year businesses).  Complete sections A-E on the front page of the return and make sure you sign the bottom – that’s it!
How should one fill out Form 1120 for a company with no activity and no income and that has not issued shares?
You put all zeros in for revenue and expenses.  Even though the corporation has not formally issued shares, someone or several individuals or entities own the common stock of the corporation and you need to report anyone who owns more than 20% of the corporation.
C-Corporation pays $1,000 in federal taxes (1120) in 2018 for taxable year 2017. How should this transaction be entered in Quickbooks so that it does not show up as an expense in TurboTax?
You would just enter it in as federal tax expense so whomever prepares the return would know the item is not deductible.Then when you prepare the return you would show it on schedule M-1 as a non-deductible expense.Coming from a CPA with 17 years experience, if you’re even asking the question you may be in over your head with the prep work. You might want to consider sitting down with even a lower-priced professional enrolled agent or other similar preparer who will be able to help. Too much at stake to do things incorrectly.
How much should Box 2 on a 1098-T from Santa Fe University of Art show?  What do I fill in on TurboTax related to box 2?
Not necessarily.Not all higher education expenses qualify for US tax benefits. Generally, the only expenses that qualify are tuition and required fees. Room and board is not a qualifying expense, and except for the American Opportunity Credit, neither are expenses for required books or supplies that are not paid directly to the institution.If all of the required expenses were paid by a scholarship - and not by you directly - then you will not have any tax benefit. You should have received a detailed breakdown from the school of the expenses and how they were paid - if you did not you should request one. If you purchased required books, equipment, and/or supplies from a source other than the university and your student qualifies for the American Opportunity Credit, you can claim those expenses for that credit.
How does one get invited to the Quora Partner Program? What criteria do they use, or is it completely random?
I live in Germany. I got an invite to the Quora partner program the day I landed in USA for a business trip. So from what I understand, irrespective of the number of views on your answers, there is some additional eligibility criteria for you to even get an email invite.If you read the terms of service, point 1 states:Eligibility. You must be located in the United States to participate in this Program. If you are a Quora employee, you are eligible to participate and earn up to a maximum of $200 USD a month. You also agree to be bound by the Platform Terms (https://www.quora.com/about/tos) as a condition of participation.Again, if you check the FAQ section:How can other people I know .participate?The program is invite-only at this time, but we intend to open it up to more people as time goes on.So my guess is that Quora is currently targeting people based out of USA, who are active on Quora, may or may not be answering questions frequently ( I have not answered questions frequently in the past year or so) and have a certain number of consistent answer views.Edit 1: Thanks to @Anita Scotch, I got to know that the Quora partner program is now available for other countries too. Copying Anuta’s comment here:If you reside in one of the Countries, The Quora Partner Program is active in, you are eligible to participate in the program.” ( I read more will be added, at some point, but here are the countries, currently eligible at this writing,) U.S., Japan, Germany, Spain, France, United Kingdom, Italy and Australia.11/14/2018Edit 2 : Here is the latest list of countries with 3 new additions eligible for the Quora Partner program:U.S., Japan, Germany, Spain, France, United Kingdom, Italy, Canada, Australia, Indonesia, India and Brazil.Thanks to Monoswita Rez for informing me about this update.
How can I get more people to fill out my survey?
Make it compellingQuickly and clearly make these points:Who you are and why you are doing thisHow long it takesWhats in it for me -- why should someone help you by completing the surveyExample: "Please spend 3 minutes helping me make it easier to learn Mathematics. Answer 8 short questions for my eternal gratitude and (optional) credit on my research findings. Thank you SO MUCH for helping."Make it convenientKeep it shortShow up at the right place and time -- when people have the time and inclination to help. For example, when students are planning their schedules. Reward participationOffer gift cards, eBooks, study tips, or some other incentive for helping.Test and refineTest out different offers and even different question wording and ordering to learn which has the best response rate, then send more invitations to the offer with the highest response rate.Reward referralsIf offering a reward, increase it for referrals. Include a custom invite link that tracks referrals.