global news
What do write offs mean?
A write-off is an accounting action that reduces the value of an asset while simultaneously debiting a liabilities account. It is primarily used in its mo...
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arts
Does third party sick pay go on W-2?
It’s important to note that sick pay must be reported on the employee’s W-2 regardless of tax implications. Employees are required to document the followi...
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technology insights
What are the conditions for taking input tax credit?
The following conditions have to be met to be entitled to Input Tax Credit under the GST scheme: One must be a registered taxable person. One can claim In...
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technology insights
Can I gift my daughter money?
Yes, you can gift money to children under the age of 18, although it’s important to be aware of certain rules. There’s a limit of £100 on the amount of in...
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environment
Are inherited IRA withdrawals taxable?
IRAs and inherited IRAs are tax-deferred accounts. That means that tax is paid when the holder of an IRA account or the beneficiary takes distributions—in...
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education
Can I be refused a rental property?
What can and can’t I reject a tenant over? You should only reject a tenant with good reason, else you might be discriminating which is actually against th...
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health
Is Georgia processing paper tax returns?
All first-time Georgia income tax filers, or taxpayers who have not filed in Georgia for at least five years, will receive a paper check. Read Georgia Tax...
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arts
Where can I file my state tax return?
If you have already e-filed or filed your federal return, you can still prepare your state return on eFile.com. You enter all your tax data but on checkou...
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environment
How do I claim medical expenses under 80D?
50,000 is the overall limit of section 80D. Hence, you can claim the maximum deduction of Rs. 50,000 from the health insurance premium, Central Government...
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local updates
Can a parent give their child a down payment on a home?
Parents agree to give their children the money to put a down payment on a home. But what are the legal and gift tax implications? Who should be the owners...
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