If you are overwhelmed with student loan debt, there may come a time when it will be difficult for you to move forward. You make payments as at when due, but you are not even close...
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
Community property is a type of joint ownership of property between couples. With some variation between states, all property acquired or purchased by a couple during the marriage...
Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
It is a common saying that there is nothing as certain as death and taxes. However, the issue with taxes is the inconsistency and the complication. Also, tax is not as old as human...
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
Sales taxes are one of the common direct ways to collect tax revenue. Although graduated income tax brackets and rates are complex and confusing for many taxpayers, sales taxes are...
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...