health
What is Allowances not exempt in ITR 1?
Allowances not exempt from tax Some of them are tax exempt up to a certain amount, whereas some are fully taxable. Transport allowance for and up to FY 20...
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health
When to withdraw excess contributions from Roth IRA?
You must also withdraw any earnings on the excess contributions. Earnings are considered earned and received in the tax year during which the excess contr...
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global news
Are stock options considered marital property?
Stock options, both vested and unvested, are considered assets in a divorce that can be divided between the spouses. To do that, the employee and his spou...
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global news
How much do you actually get after winning the lottery?
The federal government and all but a few state governments will immediately have their hands out for a bit of your prize. The top federal tax rate is 37% ...
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education
Can I deduct COBRA premiums from my taxes?
Are my COBRA premiums deductible? Yes they are tax deductible as a medical expense. You can only deduct the amount of COBRA medical expenses on your feder...
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science
Does car loan interest accrue daily?
Nowadays, most car loans use simple interest. This means interest accrues daily based on the principal. It’s also virtually unheard of to have an auto loa...
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environment
What does the first quarter end?
In a calendar year, the first quarter (Q1) starts on January 1 and ends on March 31. The second quarter (Q2) goes through April 1 to June 30. The third qu...
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technology insights
How long after buying a house can you rent it out?
Lenders don’t have to oblige, and many will require you to have lived there at least six months before granting it, although there are some with no hard r...
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business
What happens if a company refuses to provide a 1099?
A company must issue you a Form 1099-MISC to document the expenditure. If they fail to give you a 1099-MISC by the IRS deadline, which is usually in mid t...
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environment
How do I print my HMRC tax return?
Printing your Tax Year Overview Log in to your online account. Follow the link ‘view account’. Follow the link ‘tax years’ from the left hand navigation m...
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