education
Is a deductible like a down payment?
A down payment is only tax deductible if the funds came from a deductible source, such as another home loan refinance, second mortgage or home equity line...
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business
What is the cost basis for an inherited mutual fund?
The cost basis of the account that you’re inheriting refers to how much the account owner paid for the investments in the account. The stepped-up cost bas...
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global news
How do I fill out my FAFSA if I recently divorced?
If your parents live together, even if they are separated, were never married, or are divorced, you file the FAFSA with income information from both of th...
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arts
What is considered temporary residence?
Temporary residence means a place where a person lives, abides, lodges, or resides for a period of less than five (5) consecutive days or fourteen (14) da...
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culture
What is the average settlement for clergy abuse?
approximately $268,000 What Is The Average Settlement For Clergy Abuse Lawsuits? According to BishopAccountability.org, the average settlement for clergy ...
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global news
How do I report an employer contribution to a Solo 401k?
For pass-through businesses, the employee and employer portion of the Solo 401k contribution is reported on line 15 of Schedule 1. There is a direct conne...
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education
Can a disabled person be a power of attorney?
The person who is appointed to make financial decisions is called the attorney. A person (adult or a child) with intellectual disability may appoint an at...
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technology insights
How to report sale of real estate property to the IRS?
If you receive a Form 1099-S, you must report the sale to the IRS regardless of your gain exclusion. You’ll need to attach the form to your Form 1040, and...
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environment
Can both husband and wife claim 80D?
As per section 80D, a taxpayer can avail tax deduction on premium paid towards medical insurance for self, spouse, dependent parents and dependent childre...
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education
Do I need to file an FBAR every year?
The FBAR deadline is April 15 following the calendar year you’re reporting. If you’re required to file, you must file one every year. What does reporting ...
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