education
What are the deductions allowed under the new tax regime?
Deductions Allowed Under the New Income Tax Regime Although most of tax deductions and exemptions cannot be claimed under the new tax regime, the followin...
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Education
education
What to do when family member or friend owes you money?
You are not to return the item until he pays you back. Such an action gives him incentive to pay you back sooner and proves to you that he genuinely inten...
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education
What does SS mean on W-2?
Box 3 “Social security wages”: Social security wages are calculated as Federal Taxable Gross (Box 1) plus Retirement Deductions (Box 12). The maximum soci...
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education
Do you get child tax credit if your child is in college?
The Child Tax Credit will provide a one-time payment of up to $500 for 18-year-olds and those aged 19-24 who are full-time college students. For example, ...
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education
What is a 2290 Schedule 1 form?
Form 2290 Schedule 1 is proof of payment for heavy vehicle use tax that was paid by truckers to the IRS. Form 2290 must be filed with the IRS every year t...
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education
Can I work for any company with a green card?
As long as the individual secured employment with the host company that sponsored their green card with the intention of working for the company during th...
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education
What does it mean when obituary says died suddenly?
It means that no one was expecting the person to die soon, and that one moment the person was alive and well, and the next moment they were dead. What doe...
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education
What operating system is Mac up to?
macOS (originally named “Mac OS X” until 2012 and then “OS X” until 2016) is the current Mac operating system that officially succeeded the classic Mac OS...
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education
What belief should a CPA have before taking a pro taxpayer position on a tax return?
According to the Statements on Standards for Tax Services, what belief should a CPA have before taking a pro-taxpayer position on a tax return? The CPA...
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education
Do you have to file taxes if you live in NJ and work in NY?
If you live in New Jersey and work in New York, you have to file tax in both states. According to TurboTax, if you work in New York and live in New Jersey...
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