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....
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...
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,...
As the number of COVID-19 confirmed cases continues to increase in the United States, the federal government is taking steps to reduce the impact on taxpayers. In particular, the Internal...
Posted by Freddie Cook, CPA on 05/17/2020
The IRS has announced the 2020 standard mileage rates for commercial, medical, and other users of a car and the 2020 vehicle values that limit the application of specific rules to...
Posted by YourIRSTaxAdvocate.com on 02/15/2020
A 1035 Annuity Exchange is a rule in Section 1035 of the Internal Revenue Code that allows the exchange of life or tax policies for a differed annuity contract that best suits the...
Posted by YourIRSTaxAdvocate.com on 02/15/2020
If you are a full-time Forex trader, there are several significant tax benefits for those who are not available to more informal market participants. The bad news is that it is quite...
Posted by John Pournaras Agency on 10/31/2019
14.3.1 [a] U.S Taxation of Canadian Residents on Personal Services IncomeUnder the Code, non-resident aliens who earn income in the U.S. are subject to federal income tax on the portion...
Posted by The Accounting and Tax on 01/21/2019