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Can a discretionary trust have a corporate trustee?
Some benefits of having a corporate trustee for a discretionary trust include: Asset identification of the trust’s assets and personal assets is more stra...
Category: General
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What is my status on OPT?
USCIS will mail you a receipt notice (I-797C) with your OPT application case status number. You can track your case status at Request a tracking number wh...
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Is Hawaii landlord friendly?
Hawaii is not considered a very landlord friendly state. This is because tenants have several rights such as the right to extended periods of notice, and ...
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Are medical expenses deductible in Massachusetts?
Massachusetts allows a deduction for medical expenses under MGL ch 62, § 3B(b)(4) equal to the federal deduction only for taxpayers that itemize deduction...
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Are heat pumps and condensing units the same?
The main difference between the two systems is that a heat pump can reverse the process by switching the function of the evaporator and condenser coils to...
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What is refinancing used for?
Borrowers usually refinance in order to receive lower interest rates or to otherwise reduce their repayment amount. For debtors struggling to pay off thei...
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Does Etrade have IRA accounts?
IRA accounts are eligible for cash management features, such as free debit card, checking, and Bill Pay, if you’re over age 59½ and upon conversion to the...
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Can parents deduct kids tuition?
But if you are a dependent, you can’t claim either credit, even if you paid for educational expenses like books or tuition out of your own pocket. That’s ...
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What is a tax liability notice?
It is an official written claim that a taxpayer owes additional income tax (and often interest on that amount, plus additional penalties). It is issued wh...
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What can I do for my mother who passed away?
Coping With Grief You are likely to receive a lot of support from friends and co-workers in the days immediately following your mother’s death. Allow your...
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What form does your bank send to report the amount of interest you paid on your mortgage?
Form 1098: Mortgage Interest Statement Form 1098: Mortgage Interest Statement is an Internal Revenue Service (IRS) form that is used by taxpayers to repor...
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Can I buy a house and rent it out to my parents?
If you: Own a property outright and there’s no mortgage left to pay on it, then it’s yours and you can rent it to whomever you like. Already have a reside...
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Is a church immune from property taxes?
Under American tax law, churches are exempt from having to pay federal, state, and local taxes. As such, they are generally exempt from federal, state, an...
