health
How are cryptocurrency trades taxed?
How Is Cryptocurrency Taxed Anyway? Tax partner Jon D. Feldhammer of Baker Botts says that, generally speaking, cryptocurrency is treated as property and ...
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local updates
How does married filing jointly work in Canada?
The Canadian counterpart is known as Canada Revenue Agency (CRA). Married filing jointly allows two married individuals in the U.S. to combine their incom...
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health
When can you distribute money from a Roth IRA?
age 59 1/2 In general, you can withdraw your Roth IRA contributions at any time. But you can only pull the earnings out of a Roth IRA after age 59 1/2 and...
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technology insights
How do I select my ITR assessment year?
For instance, if your financial year is from 1 April 2020 to 31 March 2021, then it is known as FY 2020-21. The assessment year for the money earned durin...
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culture
Which skill is best for freelancing in 2021?
8+ Best Freelance Skills To Learn In 2021 JavaScript, CSS, and HTML. Web development is still one of the most in-demand jobs in the freelancing markets. W...
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global news
How is taxable income calculated on Qbi?
In the case of a non-SSTB, when taxable income exceeds the threshold amount, the QBI deduction is calculated by taking the lesser of: 20% of QBI; or. The ...
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technology insights
Are miles driven for medical tax deductible?
The IRS allows you to deduct mileage for medical care if the transportation costs are mainly for — and essential to — the medical care. Actual expenses yo...
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environment
What is considered a loss in an LLC?
If your costs exceed your income, you have a deductible business loss. You deduct such a loss on Form 1040 against any other income you have, such as sala...
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business
How do I file 8868 electronically?
How to file Form 8868 Electronically? Step 1 : Enter organization details such as Name, EIN. Step 2 : Choose the IRS form to extend. Step 3 : Choose the o...
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local updates
Can ITR be filed without payment of tax?
In view of the large cases of ITRs being filed without payment of self assessment tax, the Finance Act, 2013 has inserted a new clause (aa) to the said ex...
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