education
What do senior citizens buy the most?
According to the National Center for Policy Analysis, seniors do the most of their buying/spending on mortgages and healthcare. However, when it comes to ...
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arts
How do I get the most out of being an independent contractor?
Top 6 Tips for Success as an Independent Contractor: 1) Determine Your Business’ Legal Structure. 2) Create a Plan for How to Run Your Business. 3) Assess...
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science
Can you claim EIC in year of death?
Even though death occurred, a taxpayer is considered “alive” all year for Earned Income Credit. If the taxpayer can claim any qualifying dependents for EI...
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science
When can medical expenses be deducted?
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. ...
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local updates
Can a non-resident incorporate a company in USA?
“Yes, You Can!” Every day, foreign nationals are setting up US businesses, from major enterprises to small shops. Setting up a company in the US as a non-...
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local updates
Do I need to file FBAR 2019?
Deadline for reporting foreign accounts 15, 2019, to file the FBAR. In general, the filing requirement applies to anyone who had an interest in, or signat...
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business
Can SSI recipients use the get my payment tool?
You can use the IRS’ Get My Payment Tool to see an estimate of when the IRS may send your EIP. Some Social Security beneficiaries may have received a rece...
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health
Where do you report patronage dividends on Schedule F?
Per the IRS instructions, patronage dividends and other distributions in boxes 1, 2, 3, and 5 from a cooperative are reported on Schedule C, Schedule F, o...
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business
Can I file back taxes separately?
When you prepare and e-File a tax return as Married Filing Separate, you and your spouse each file your own return. As such, you report your own individua...
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culture
What is the depreciation for equipment?
Depreciation On Equipment refers to spreading the cost of equipment after deducting salvage value throughout the life span of such equipment, such reducti...
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