global affairs
When can you claim medical expenses on your tax return?
For tax returns filed in 2021, taxpayers can deduct qualified, unreimbursed medical expenses that are more than 7.5% of their 2020 adjusted gross income. ...
Category: Global Affairs
global affairs
Are impact windows good for hurricanes?
However, choosing impact windows is typically the better choice. A standard hurricane window will be able to withstand the extreme pressure generated by h...
global affairs
Are owner contributions taxable?
Owner Contribution and Business Taxes There is no real Business Tax unless you are a C Corporation. If you deposit your tax refund to a business bank acco...
global affairs
Can a business purchase a car for personal use?
If you have decided to have your business purchase a car or truck, ensure that you are accounting for any personal use of the vehicle. The IRS expects tha...
global affairs
Where do I enter my HSA contribution in TurboTax?
Enter your own HSA contribution as a personal HSA contribution in the 1099-SA, HSA, MSA section of TurboTax. The contribution will appear on Form 8889 lin...
global affairs
What is the tax rate on unexplained income?
Taxability of Unexplained Cash Credit Unexplained cash credits are taxed at flat rate of 60% without providing any benefit of basic exemption limit and ir...
global affairs
Does Georgia have right of survivorship?
If you own property jointly with someone else, and this ownership includes the “right of survivorship,” then the surviving owner automatically owns the pr...
global affairs
When do I get my tax refund if I filed in March?
I filed my taxes in March but have not yet received my refund . Only the IRS controls when and if a tax refund is Approved and Sent. Call the IRS: 1-800-8...
global affairs
Will I get taxed on my first wage?
Generally, only one of your jobs will have your tax-free Personal Allowance attached to it, while the other will be taxed at the basic rate from the first...
global affairs
When can I withdraw from my 457 B without penalty?
59 and a half years old Money saved in a 457 plan is designed for retirement, but unlike 401(k) and 403(b) plans, you can take a withdrawal from the 457 w...
global affairs
Why do I have a pending tax refund?
If the status says ‘pending’ it just means that your return has not been accepted or rejected by the IRS. Try checking the status of your Federal refund t...
global affairs
What does it mean when a stock turns red?
Red indicates the stock is trading lower than the previous day’s close. Blue or white means the stock is unchanged from the previous closing price. What i...
global affairs
Do weekly paychecks get taxed more?
Your employer does not withhold a greater amount of your paycheck when you get paid weekly, although he does withhold payroll taxes more frequently than i...