updates
Is 26 too late for law school?
It’s never too late in life to apply to law school. Although most applicants are under 25, roughly 20% are 30 or older, according to the Law School Admiss...
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updates
Is your 401k vested if you get laid off?
Generally, if an employee quits or is laid off, any unvested money is forfeited. The money stays with the employer, who can reuse it to fund contributions...
general
Do you have to pay tax if you sell on Amazon?
As an Amazon seller (UK), you will have to pay tax on your income as you would on any other self-employed income. First though, you’ll need to work out ho...
general
Who is the beneficiary of a revocable living trust?
The person or people benefiting from the trust are the beneficiaries. Because a revocable trust lists one or more beneficiaries, the trust avoids probate,...
updates
Can principal payments be deducted from taxes?
Costs you can’t deduct Mortgage principal (the part of your mortgage payment that pays down the actual amount you borrowed) Are business loan payments ded...
news
Does TurboTax have Form 5405?
Form 5405, Repayment of the First-Time Homebuyer Credit. You should easily be able to complete the Form 5405. The form is available in TurboTax Deluxe and...
news
How are dividends from limited partnerships taxed?
MLPs offer a cost advantage over regular company stocks since they’re not hit with a double tax on dividends. In fact, their cash distributions are not ta...
news
Can I claim my 35 year old son on my taxes?
When claiming adults as dependents, the IRS uses a test called “qualifying relative.” This is how you can claim your child who is over the age of 24 and s...
general
What are non-qualified investment accounts?
Non-qualified investments are accounts that do not receive preferential tax treatment. The amount of money you invest into a non-qualified account is cons...
general
Do I have to report extra income?
Technically, if you earn more than $600 in a calendar year, you have to report that income on your taxes. Most likely, the company you’re side hustling fo...
updates
Are residential loans non-recourse?
What Is a Non-Recourse Loan? Home mortgages—though generally recourse—are non-recourse in 12 states: Alaska, Arizona, California, Connecticut, Idaho, Minn...
general
What was the newest car in 2011?
Some highlights include the 2011 Chevrolet Volt, the world’s first mass-production plug-in hybrid; the 2011 Ford Explorer and 2011 Jeep Grand Cherokee, tw...
updates
Do you pay capital gains on every stock sale?
If you’re holding shares of stock in a regular brokerage account, you may need to pay capital gains taxes when you sell the shares for a profit. Short-ter...
