It is common for someone to live in one state and have employment in another state. In this case, one might need to file a nonresident tax return if they have earnings in a state they...
The FICA tax is the federal law on insurance contributions. The Federal Insurance Contribution Act is a federal payroll of the United States regulating social security and health insurance...
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Article Highlights:Stimulus Payments to Deceased Individuals Stop Payments Being Made on Checks Already Issued IRS Authority to Deny Stimulus Payments to Deceased Individuals History...
Posted by Ace Plus Tax Resolution on 08/04/2020
The Lifetime Learning tax credit amounts to 20% of the first $10,000 tuition fee paid every year till it reaches $2,000. To claim the entire $2,000 credit, you must have at least $10,000...
Posted by Premier Accounting & Tax on 04/02/2020
Resident or non-resident alien The IRS utilizes two tests—the 'green card test' and the 'substantial presence test'—for determining your alien...
If you are a foreigner (not a US citizen), you are considered a non-resident alien if you do not pass one of the two exams. You are a foreign resident of the United States for tax...
Posted by Global Accounting on 04/09/2019
It’s definitely an exciting journey to go off to college to widen your horizons, learn new things, and meet new people. But what makes education even better is when you get to...
Posted by Valderas Financial Solutions LLC on 11/14/2018
It took 30 years before the Congress finally passed an impactful tax reform featuring some serious changes. The goal of the Tax Cuts and Jobs Act (TCJA) is to push economic growth...
Posted by Abundant Returns Tax Service on 09/11/2018