Taxes Income Archive
Analyzing the decision to rent the property combined with the prospect of selling the home down the road may affect your decision. We usually look at the hypothetical sales transaction from the perspective of selling the property
An old saying goes “the third time is the charm.” I guess for Congress, we can say the 35th time is the charm. Last summer Congress passed its 34th short-term transportation extension bill since 2009, more formally
E-filing of income tax returns forms is very simple and easy. To begin with, you need a permanent account number or PAN number with which you can register on the e-filing portal to file your return. Portal
Covers which tax records can be thrown and which tax records should be kept. Keep copies of all tax returns.
Anyone who works for themselves is considered self-employed by the IRS and required to file a Schedule C tax return on all income they receive. That includes everyone from someone already receiving social security who is paid
Meaning of Form 26AS: The Form 26AS (ANNUAL TAX STATEMENT) is a consolidated tax credit statement issued by the Income Tax Department to the tax payer. Entries in the Tax Credit Statement (Form 26AS) are generated when
The IRS (Internal Revenue System) has framed certain laws about paying the taxes for individuals, married couples, business owners, and so on residing in the US. They offer individual forms and ensure complete support while filing for
There are some dedicated employees that work in an office and also infrequently bring work home (hereinafter referred to as “Non-telecommuting workers”). Non-telecommuting workers often ask us whether they can deduct expenses for the office they’ve set
Waiting on hold is always aggravating. But calling the Internal Revenue Service can be especially frustrating because you are nearly guaranteed a long hold time, assuming you can get a human being on the line at all.
There are some tax downfalls linked with trading mutual funds that should be given consideration. Awareness of these downfalls will reduce taxes and stop surprises from happening while visiting your CPA firm. One thing to be aware