2024 Earned Income Tax Credit Calculator & Table
The Earn Income Tax Credit or EITC credit calculator is built by considering various eligibility conditions, income limits, and phase-out thresholds for the tax years 2022 and 2023. The earned income...
View ArticleCryptocurrency Alert! New $10k Reporting for Businesses in 2024!
Are you in the trading or business? Then, be ready to comply with a new $10K reporting rule effective from 1st January 2024.? The new law is that anyone who carries trade or business and receives more...
View ArticleTax Season 2024 Begins on 29th January: Here is An Ultimate Checklist for Tax...
A checklist for tax preparation is the first thing one should consider when you start preparing for tax filing.The IRS has already announced tax seasons start from 29th January 2024, when they start....
View ArticleKiddie Tax Calculator for 2023 & 2024 With Tax Rules Made Simple!
Kiddie tax calculator for 2023 & 2024 is a quick guide on the special rule for taxing a child’s unearned income if certain conditions are fulfilled. In other words, a child’s earned income, like...
View ArticleWhat are Closer Connection Exceptions for Substantial Presence Test?
The answer is yes as the rule of Closer Connection Exceptions provides a relief to a person who fulfils three years presence condition as provided under the substantial presence test , but was not...
View ArticleWho Are Exempt Individuals Under US Tax Residency Laws ?
Exempt individuals are certain types of Individuals ,whose physical presence in the USA , is not counted for tax residency purposes. In an earlier article on tax residency, readers were informed that a...
View ArticleSpot BitCoin ETFs vs BitCoin ETF: Are They Taxed Differently ?
The USA’s Securities Exchange Commission (SEC) approved eleven Spot Bitcoin ETFs on 10 January 2024. But , So, anyone can buy and sell these ETF units. However, unlike usual ETFs, there are slight...
View ArticleNet Investment Income Tax Calculator-Detailed
The law for taxing Net Investment Income was brought in as part of the Health Care and Education Reconciliation Act of 2010. NIIT was designed to fund Medicare expansion and is commonly associated with...
View Article25 Self-Employment Deductions Every Entrepreneur Should Check & Claim
Here is list of self employment deductions- 25 deductible expense , that must be taken into account while computing profit of business
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