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How do I know if I have dual status?
You are a dual-status alien when you have been both a U.S. resident alien and a nonresident alien in the same tax year. Dual status does not refer to your...
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What does it mean when the IRS has approved your tax return?
When you receive confirmation that the IRS accepted your return, it means that they have reviewed your return, and it has passed their initial inspection....
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Can a Roth IRA be willed?
You don’t have to take distributions from a Roth IRA during your lifetime, so if you don’t need the money you can leave it all to your heirs. Your heirs w...
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Does a pensioner need a tax file number?
If you receive a superannuation pension, you are not exempt unless you also receive one of the above payments. Even though you are a pensioner and exempt ...
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Does 1099-DIV include qualified dividends in ordinary dividends?
Box 1a of your 1099-DIV will report the total amount of ordinary dividends you receive. Box 1b reports the portion of box 1a that is considered to be qual...
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Do clothes sell well on Shopify?
Yes, used clothes can be sold on Shopify. However, it will take a significant amount of work to make the brand work. You will need to setup proper process...
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Who are the remaindermen in a life estate?
The people who stand to receive title to the property upon the passing of the life estate holder are called remaindermen, or, in the case of a single pers...
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Where do I report 1099-OID on my tax return?
On Form 1099-OID, report the qualified stated interest in box 2 and the OID in box 1, 8, or 11, as applicable. You may choose to report the interest on Fo...
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Do you need an attorney to sell a house in Massachusetts?
Massachusetts requires that buyers use a bank attorney at closing instead of a title company. Because of this, 99.99% of sellers also hire a real estate a...
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How many vacation hours do you get per year?
If you receive 120 hours per year and are paid weekly, you divide 120 by 52 equaling roughly 2.3 hours of PTO per period. Biweekly is roughly 4.6, semimon...
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Can you sell ETFs like stocks?
If you already own an ETF that you wish to short, the easiest and most obvious way to do so is to place a sell order with your brokerage. Like selling an ...
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Do you have to declare cryptocurrency on taxes?
The Australian Tax Office is warning would-be cryptocurrency and NFT millionaires that any gains they’ve made off the booming digital revolution must have...
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Can you own 2 homes in Canada?
Despite only allowing one property to be claimed, the rules allow you to have two residences in the same year: i.e., where one residence is sold and anoth...