civics and society
Why do I have to pay IRS every year?
The less tax that is withheld during the year, the more likely you are to end up paying at tax time. In a nutshell, over-withholding means you’ll get a re...
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news
What should you always do before you open an attachment?
Save and scan any attachments before opening them. Be sure the signatures in your antivirus software are up to date. Save the file to your computer or a d...
culture and society
What is a C Corp Corporation?
A C corporation, under United States federal income tax law, refers to any corporation that is taxed separately from its owners. A C corporation is distin...
news
How many years of cash should I have in retirement?
Emergency Funds for Retirees Many experts recommend that retired folks keep between six and twelve months of daily living expenses in cash. Some even sugg...
science and technology
Do state taxes affect your credit score?
Tax bills do not affect your credit scores directly, but if you use credit to pay your taxes or fail to pay your taxes in full, your credit score can be a...
civics and society
Do retirees receive a W-2?
Like the W-2 you receive when you’re employed, retirees have their own version of income reported to the IRS. This is a tax form called a 1099-R. Also lik...
global affairs
What do you need to know about Form 5472?
About Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Corporations fil...
global affairs
Does CRA share information with other countries?
The CRA will exchange this information with foreign tax authorities from countries with which Canada has an agreement. Reportable accounts held by US Pers...
education and learning
Can I claim 80D for in laws?
To avail tax benefits under section 80D, you parents-in-law must not be covered under any health insurance plan. If the disability is severe, your spouse ...
science and technology
How can I write off my timeshare?
Let’s take a look at some of the best tax deduction opportunities for your timeshare: Maintenance fees. The money you pay to maintain the property may be ...
culture and society
How is alimony money decided?
If the alimony is being paid on a monthly basis, the Supreme Court of India has set 25% of the husband’s net monthly salary as the benchmark amount that s...
health and wellbeing
Why did I get a 1099-int from the state?
Why you got this You received this form because both of the following happened: You claimed state income tax payments as an itemized deduction on Schedule...
global affairs
How do I know if I owe the government money?
You can access your federal tax account through a secure login at Once in your account, you can view the amount you owe along with details of your balance...