For people in the real estate business with agents that you give commissions after every sale or lease, you must report such payment on a 1099 MISC form. Your obligation as an employer...
The Income Tax Service has classified the income of Indian citizens into five different categories, depending on their source of income. These categories mainly include homeownership,...
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
The EITC (earned income tax credit) is a refundable credit that applies to all taxes owed after completing the return and calculating the amount owed. The Internal Revenue Service...
Posted by Carmen Garcia on 09/14/2020
When you consider the amount of money you have to send to Uncle Sam every month, it might be tempting to forge figures and inflate your tax returns. Intentionally lying on your...
Accumulating financial assets in a tough and competitive world is hard work. Yet, no matter how much you have, there are sharks and potholes along the way ready to eat at your financial...
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....
While the separate filing of tax is a good idea and comes with its advantages, filing jointly brings about significant tax breaks in addition to being a simple method. We compiled...
With the next tax season around the corner, you might be wondering if you've paid enough tax this year. Don't worry, we have put together a list of cash flows you can achieve...