When to sell agricultural land for capital gains?
Again u/s 54B “ The New agricultural land which is purchased to claim capital gains exemption should not be sold within a period of 3 years from the date ...
Category: Updates
Does Finland tax foreign income?
If you are a foreign student or trainee, Finland does not usually impose tax on income you receive from other countries. If you receive income from a Finn...
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...
Do you have to open an estate when someone dies in NC?
Probate court proceedings are required only if the deceased person owned assets in his or her name alone. Other assets can usually be transferred to their...
Who can file 1040 short form?
Before recent tax reforms, you could file with Form 1040EZ if: Your filing status was single or married filing jointly. You had taxable income of less tha...
What name do I put on 1099?
The 1099-MISC tax form will print with the First and Last Name on line 1. In addition, the IRS requires the use of the owner’s Social Security number on t...
How does a LLC affect your personal taxes?
A benefit of LLCs is they don’t have to pay a business income tax, as the IRS doesn’t look at them as being an individual entity when it comes to tax purp...
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...
Can a tax preparer file electronically?
Those who are subject to the e-file requirement are referred to as “specified tax return preparers.” You must be an authorized e-file provider to use IRS ...
Why did I get a W-2 from another state?
As you already figured out, if you work in more than 1 state, sometimes they will give you another W2 with the extra state information on it and the top p...
