updates
Can you get inheritance from another country?
No, the IRS does not impose taxes on foreign inheritance or gifts if the recipient is a U.S. citizen or resident alien. However, you may need to pay taxes...
Category: Updates
updates
When someone calls you do you get a busy signal?
Reasons for a busy signal The called number is talking with another caller on the phone. The number is calling out. Someone else has called the number or ...
updates
Am I considered an international student if I am a US citizen?
Am I considered an international student? No, if you are a U.S. citizen, legal resident, or green card holder you will not be considered an international ...
updates
Why do I keep saying the wrong name?
The phenomenon of a person inadvertently calling someone familiar by the wrong name is known as misnaming. Misnaming typically occurs within a social grou...
updates
Can illegal businesses deduct expenses?
illegal expenses in section 162(c)(2) prevents the deduction of the legal expenses of a business that was illegal to operate. The Tax Court held that the ...
updates
Can a corporation trade stocks in Canada?
Corporations can own stocks, bonds, mutual funds and rental properties. Taxpayers could set up their own company and transfer their investments into it. I...
updates
What is scholar tax?
Scholarship money is generally tax free provided you are a candidate for a degree at an eligible institution and use the money to pay for qualified expens...
updates
How do you write a check for 26000?
$ (Amount in Numeric Form): Put 26000.00 in the box right after the $ sign on the same line. Make sure to include the decimal part 00. DOLLARS (Amount in ...
updates
What is a long-term care expense?
You can generally include qualified medical expenses you pay for yourself, as well as those you pay for your spouse and/or dependent. Long-term Care Expen...
updates
What is the capital gains tax rate in MD?
5.8% State Capital Gains Taxes MD has its own 5.8% capital gains tax. Does Maryland charge capital gains tax? States either allow a taxpayer to deduct the...
updates
What does the Jones Act do?
The Jones Act requires that all vessels carrying goods between two U.S. points be American-built, -owned, -crewed and -flagged. This policy provides stabi...
updates
Can I pull money out of my SEP IRA?
Participants can withdraw funds from their SEP IRA at any time without being required to show evidence of financial hardship. However, withdrawals taken b...
updates
Can you sleep in an RV while moving?
Seat belt laws are especially important when it comes to taking a quick nap in a moving RV. If you can sleep while sitting up in an RV passenger seat, the...
