Can a state garnish an income tax refund?
Before any other federal or state agency can garnish your tax refund, you must be current on your federal income tax payments. This is because the outstan...
Category: General
Should I live in Maryland or Delaware?
Delaware is a better state to retire compared to Maryland. Delaware is more tax-friendly, less heavily populated, and surrounded by peaceful retreats (inc...
Can you start a business as a non US citizen?
The American dream of business ownership in the United States is not limited to only U.S. citizens. Neither citizenship nor residency is required to start...
Can an LLC File 2553?
If so, the LLC will be taxed under Subchapter C of the Code. And, once it has elected to be taxed as a corporation, an LLC can file a Form 2553, Election ...
Are Excise and sin taxes the same?
A sin tax is an excise tax on socially harmful goods. An excise tax is a flat tax imposed on each item sold. The most commonly taxed goods are alcohol, ci...
How to claim sale of residence on taxes?
Sale of Residence – Real Estate Tax Tips. You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main h...
Do you have to have a LLC for a rental property?
Make sure that your LLC is registered in the same state as your rental property. Transferring Your Rental Property Into an LLC If your rental property alr...
Are life insurance policies paid monthly?
Life insurance premiums are typically paid on an annual or monthly schedule, but you are often given the option to pay semi-annually (twice per year) or q...
Do you get a W-2 form if you are retired?
Like the W-2 you receive when you’re employed, retirees have their own version of income reported to the IRS. This is a tax form called a 1099-R. Also lik...
Are spendthrift trusts valid in all states?
Creditors cannot take money from the general funds of a spendthrift trust. In fact, most states do not allow these types of trusts. Many states have laws ...
