What happens when the government reaches out lawfully or forcefully to take over your private property? Does a property owner get compensation for the takeover, and if they do, what...
People that do not have health insurance in 2020 will not be subjected to a penalty. Taxpayers need not report their health insurance on their return except either you or a member...
A defined benefit plan is an employer-sponsored pension plan in which benefits are calculated using a formula that considers various factors, such as salary history and length of employment....
Uncle Sam defines passive activities as a business venture you are not actively involved in. For the purpose of tax, income can be grouped into two categories according to the IRS...
Taxes are an integral part of any economy. As a responsible taxpayer, you are supposed to pay your taxes and file your returns on time. While these are important exercises, most people...
Uncle Sam believes that dividends are taxable income. As a result, no matter the amount, it is imperative you report them on your returns. Dividends can be considered as your...
If you or your family members have ever been to the hospital or had other expensive medical or dental bills, keep these receipts as they can help you lower your taxes. You can use...
Form 1099-CAP from the IRS is one of the series of the 1099 forms available from Uncle Sam. They use this to report transactions and payments from nonemployee. Whenever there is a...
From the beginning of 2021, the highest earnings that will apply to the SS (Social security) payroll tax will rise from 137,700 to 142,800 dollarsAccording to the increase in the national...