The process of growing your financial asset is known as investment. This can happen in various ways, like investing in an asset that will give a cash flow, rising prices, or both....
The payment of income tax is a reality. And when Uncle Sam says income, he is talking about all the money you make, whether it's from your job or your investment. This includes...
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
Deployed service members must submit their taxes. Fortunately, the Internal Revenue Service realizes that the service members and their families face unique circumstances and offer...
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
If you are one of those persons who supported your parents financially in the previous year, the U.S government is willing to share the cost by providing certain deductions when you...
What is a combat zone?A combat zone is designated as a war zone for a specified period with the aim of reporting to the Internal Revenue Service by military personnel. While serving...
In general, any form of military payment obtained while deployed to a combat zone is excluded from federal income tax. This translates into significant tax savings for the active combat...
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,...