The US tax system is set up on both the federal and the state level. There are several taxes which citizens must file. These taxes include: income tax, capital gains and sales tax....
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,...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
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...
The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...
Posted by Elliot Kravitz, ATP on 08/28/2020
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020
Divorce is hard and horrible. But at times, love turns sour, and two people have to part ways. The singular decision of parting ways involves many things. There are a ton of decisions...
Living and working abroad is an incredibly interesting opportunity. However, because U.S. taxes are based on citizenship, Americans living in a foreign country must continue to file...
Posted by Flynn Financial Group Inc on 07/09/2020