global news
Do I need to report foreign interest income?
If you are a U.S. citizen or resident alien, you must report income from sources outside the United States (foreign income) on your tax return unless it i...
Read Journal Category
Global News
global news
Do independent contractors have to file taxes every year?
You must file an annual income tax return (Form 1040). This requirement applies if you earned $400 or more through self-employment. Do I have to file quar...
Read Journal
global news
How do I file exempt on w4 in California?
To claim an exemption, you must complete only lines 1, 2, 3, 4, and 7 and sign the form to validate it. (In Box 7, write “EXEMPT”. Writing this will guara...
Read Journal
global news
What happens if my business expenses exceed my income?
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...
Read Journal
global news
What does it mean being paid at 100% VA rating for being unemployable?
To Summarize: Receiving the Individual Unemployability benefit which designates you as 100% “unemployable” means you cannot work a job deemed “substantial...
Read Journal
global news
Do you get taxed differently if you have two jobs?
So when you ask ‘do I pay more tax on a second job? ‘, the answer is no. You combine the income from both jobs, and pay tax on the whole. The Personal Tax...
Read Journal
global news
Does stimulus check use gross income?
Income Requirements For The Third Stimulus Payment The IRS uses your tax filing status and the adjusted gross income (AGI) from your latest tax return to ...
Read Journal
global news
Do you pay taxes on an inherited IRA?
IRAs and inherited IRAs are tax-deferred accounts. That means that tax is paid when the holder of an IRA account or the beneficiary, in the case of an inh...
Read Journal
global news
Do you get a W-2 from the National Guard?
DFAS encourages and expects everyone receive their tax documents online via electronic delivery… Where can I get W-2 forms? To order official IRS informat...
Read Journal
global news
Was the tax deadline extended for LLCs?
Sole proprietorships and single-owner LLCs must apply for an extension by May 17, 2021, which extends their tax-filing deadline to October 15, 2021. Partn...
Read Journal