arts
When did the domestic production activities deduction end?
2017 This deduction is intended to provide tax incentives for businesses that produce most of their goods or work in the United States rather than sending...
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environment
Does USA have a tax treaty with Mexico?
The United States – Mexico Tax Treaty covers double taxation with regards to income tax and capital gains tax, however, as mentioned earlier, due to a Sav...
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local updates
When to use long term capital gain or loss?
Long-term capital gains or losses apply to the sale of an investment made after owning it 12 months or longer. Long-term capital gains are often taxed at ...
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local updates
Does annual exclusion apply to charitable gifts?
The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts...
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local updates
Do authors get royalties from eBooks?
Under standard royalties, an author gets roughly 20 to 30% of the publisher’s revenue for a hardcover, 15% for a trade paperback, and 25% for an eBook. Ob...
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technology insights
What is a donation type that a nonprofit business can receive?
There are two types of donations that can be made to a 501(c)(3). A cash donation is the transfer of funds to a nonprofit. An in-kind donation is the tran...
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culture
Do you send 1099 for sponsorship?
Reporting. A sponsor must report more than $600 in nonqualified payments made to a sponsored individual annually by filing Form 1099 MISC with the IRS. Th...
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culture
What is the New York State standard deduction for 2017?
The income tax withholdings for the State of New York will change as follows: The Married standard deduction will increase from $7,900 to $7,950. The Sing...
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global news
What tax return is used by a partnership?
Form 1065 About Form 1065, U.S. Return of Partnership Income | Internal Revenue Service. What type of return is a 1065? informational tax return IRS Form ...
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health
Do you get a W-2 if you only worked a week?
No matter how short a period you worked at a job, you still will need to include a W-2 from that employer to properly file your income taxes. The Internal...
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