data and analysis
Do I have to pay capital gains tax if I live abroad?
The only offshore tax tool which helps average Americans abroad is the Foreign Earned Income Exclusion. So, expats and those of us living and working abro...
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global affairs
Can a non profit invest donations?
Once nonprofits get larger, however, some are able to start thinking for the future. In order to take initial seed money and grow it into a substantial ne...
civics and society
When ITR refund will be credited 2020?
As per the procedure, the Income Tax Department processes the refund only after processing your ITR. Generally, it takes 30-45 days from the date of e-ver...
data and analysis
Are state refunds taxable in 2018?
As in the past, state and local tax refunds are not subject to tax if a taxpayer chose the standard deduction for the year in which the tax was paid. The ...
culture and society
What is the taxable amount of Social Security at age 71?
For age 71/73, social security benefits total $56,376, and the taxable portion is $47,920 (85%) The amount of Social Security subject to taxation changes ...
global affairs
Who can elect mark-to-market?
Section 475(f) Election to use Mark-to-Market Accounting According to the IRS: A trader in securities or commodities may elect under section 475(f) to use...
culture and society
Does Canada allow dual citizenship with New Zealand?
There are no restrictions on New Zealand citizens also holding the citizenship of another country (i.e. to be dual nationals or citizens). Some countries,...
health and wellbeing
What are psychotherapists trained in?
Professional Background can Differ Psychotherapists can have formal training in any profession prior to becoming a professional in psychology. This can in...
news
How much can you sell your home without paying tax?
Capital gains on a home saleare exempt from taxation up to $250,000 for singles and $500,000 for married couples. We discuss this in more detail below. Ca...
global affairs
How is inheritance distributed?
To distribute everything evenly, one can simply list beneficiaries. If certain items are to be left to certain people, that must be spelled out in the wil...
culture and society
How many pages should a tax return be?
The original Form 1040, available on the IRS website as well as elsewhere, is three pages and 31 lines long, with the first page focused on computing one’...
education and learning
How does Ga film tax credit work?
Georgia’s Entertainment Industry Investment Act provides a 20 percent tax credit for companies that spend $500,000 or more on production and post-producti...
environment and climate
What if I did not receive a SSA 1099?
If you did not receive your SSA-1099 or have misplaced it, you can get a replacement online if you have a My Social Security account. If you don’t have a ...