local updates
What is circular and notification?
In simple words. NOTIFICATION is issued under delegated authority and all the concerned person are bound to follow it. CIRCULAR means clarification issued...
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education
What does an annuity cover?
An annuity is a contract between you and an insurance company to cover specific goals, such as principal protection, lifetime income, legacy planning or l...
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education
What was mileage rate for 2015?
57.5 More In Tax Pros Period Rates in cents per mile Business Medical Moving 2015 57.5 23 2014 56 23.5 2013 56.5 24 How much per mile is a business expens...
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education
Can estimated taxes be paid late?
If you miss a quarterly tax payment, the penalties and interest charges that can accrue depend on how much you make and how late you are. The IRS typicall...
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business
How can I reverse my ITC?
It is known as an Input tax credit (ITC). If the input tax credit is wrongly claimed, then it should be reversed by making payment to that extent next mon...
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global news
Do you have to open an estate when someone dies in NC?
Probate court proceedings are required only if the deceased person owned assets in his or her name alone. Other assets can usually be transferred to their...
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arts
What are Virginia state taxes due?
Northam extends due date for Virginia income taxes to May 17 Virginians usually must file their taxes by May 1. The federal due date is usually April 15 b...
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culture
How much is self-employment tax for independent contractor?
The self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% f...
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arts
Are utilities tax deductible for self employed?
Note that the property tax related to business use of work space in your home has to be claimed as business-use-of-home expenses. You can deduct expenses ...
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science
When is the deadline to file federal income tax?
April 15 is supposed to be the official tax deadline to file your federal income tax return each year, but that date isn’t carved in stone. It’s a Thursda...
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