Investors often fork over thousands of dollars for capital gains taxes that they could defer indefinitely with 1031 exchanges. Learn the basics about how IRS code Section 1031 can preserve wealth.
This information given here will help you to update your KRA pin to iTax. All old pins processed using ITMS are required to be updated to iTax. This is done by logging in to iTax portal.
Certain red flags that the IRS looks for can put you at risk for a tax audit. Stay out of trouble by reporting all of your income and only taking credits and deductions that your are entitled to and can support with proper documentation or receipts for all expenses.
A complete guide to file income tax return and wealth statement for tax year 2015 as a salaried or business individual, an AOP or a company using iris system.
For Filipino taxpayers, filing taxes online is not yet the norm. If you are one of those thinking of enrolling in the EFPS and filing your taxes online, here are some of the things you need to consider before you go through the enrollment.
Do you know the pros and cons of a car donation? When you donate your car, how much of the car's value goes to charitable causes? Find out the good, bad and ugly side of car donations. Read more...
Tax rates for filer and non-filer taxpayers are different in Pakistan; non-filers have to have pay more tax. Here's how to become a filer and appear on the active taxpayers list (ATL).
IRS Form 1099 is used to report income or earnings paid to you. Self-employed receive a 1099-MISC and must report it on a Schedule C. Other common Form 1099s that can be received include 1099-INT, 1099-DIV, 1099-R, 1099-B, and SSA-1099. Form 1099-C is used to report cancellation of debt. Form 1099-K is used to report third party or credit card transactions paid to you.
Figuring out how to calculate your taxes can be very challenging, even with the help of a tax professional. If your dependent child collects unearned income from government benefits such as Supplemental Security Income (SSI), figuring out what to...
Tax time doesn't need to be a stressful event if you maintain records throughout the year. Follow these tips to make filing your taxes a breeze.
Tax Clearance is required if you retire, resign, or leave Malaysia for more than 3 months, and for the deceased. So how to apply for a tax clearance letter (TCL) and get your last month's salary ASAP?
The Earned Income Tax Credit (EITC) is a refundable federal tax credit. It is designed to help low and moderate-income individuals and families keep more of what they earn. Claiming a qualifying child can increase your EITC. The 4 criteria that must be passed for a qualifying child include relationship, age, residence, and joint return.
The one thing that everyone always wants to make sure to think about first is tax write-offs. This list will ensure you don't miss anything if you're a freelancer or work-from-home employee.
Learn all the various advantages and disadvantages of direct taxes. This articles explains all the merits and demerits or advantages and disadvantages of direct taxes.
TurboTax is so incredibly user-friendly. The only hard part is determining which version fits your needs: Basic, Deluxe, Premier, or Home & Business. Here's some guidelines to help you decide.
Explains the difference between tax planning (legal), tax evasion (illegal) and tax avoidance (somewhere in between) and the risks involved.
A complete guide to submitting/e-filing income tax returns and wealth statements for tax years 2014, 2015, 2016 and 2017 via FBR's IRIS system. How to get NTN before submitting returns.
Utilities include: gas, water, sewer, electric, and heat. These utilities will go on form 8829 as they are deductions through the business use of the home. When you are filing for a business use of home, there is a space to place your utilities....
An overview of the earned income tax credit, including what it is, who qualifies, and the high rate of tax fraud involved with it.
You can claim your girlfriend or fiancée on your taxes provided she meets certain qualifications. Here's how to do it and how much you can get back from the IRS.
When you donate something that isn't straight cash, you are responsible for recording its value if you want to get a deduction for it when you file taxes for the year. Because much of what we donate is used, we cannot record its original value,...
Do you want to take advantage of financial benefits (lower taxes, business tax credits, in-state college tuition, etc.) by establishing residency in another US state? Here's what to do.