local updates
Is the supplemental check taxable?
All supplemental wages are subject to FICA taxes (Social Security/Medicare tax) and federal unemployment tax. No matter how you pay these wages, make sure...
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science
Can the IRS seize your 401K?
The general answer is no, a creditor cannot seize or garnish your 401(k) assets. 401(k) plans are governed by a federal law known as ERISA (Employee Retir...
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local updates
How to calculate adjusted basis on sale of rental property?
Determining the adjusted basis of a rental property is important because you will need it to calculate your gain or loss on sale, which in turn affects yo...
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arts
Where can I open a custodial account for my child?
Ally Bank is our choice for the best custodial bank account because it offers Online Savings Accounts that can be easily opened for minors. Its online sav...
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science
Can a custodial parent claim the kids on their taxes?
This is important to note: If both you and your ex filed for the deduction, whoever files second will automatically be rejected by the IRS, even if you’re...
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arts
How are MLP capital gains taxed?
When you sell an MLP, you will calculate your gain or loss, just as you would with any other investment. Your taxable gain is the difference between the s...
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environment
How many hip operations go wrong?
Hip replacement surgery is done in an ultra-clean operating theatre and antibiotics are given during the operation. But in less than 1 in every 100 operat...
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arts
Do I include my pension on my tax return?
Money from pensions will be taxed under the Pay As You Earn (PAYE) system. You might not pay the right tax at the right time. You might need to claim a ta...
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technology insights
Can a company just buy another company?
A merger typically occurs when one company purchases another company by buying a certain amount of its stock in exchange for its own stock. An acquisition...
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culture
Do independent contractors file taxes?
For tax purposes, the IRS treats independent contractors as self-employed individuals. You’ll need to file a tax return with the IRS if your net earnings ...
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