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Earned Income Tax Credit & All It’s Details

Earned Income Tax Credit & All It's Details Taxpayers having income below a certain limit for a specific financial year can benefit from the Earned Income Tax Credit system provided by the United States of America. Under this tax credit system individuals can reduce the tax they owe to the government. In certain cases, [...]

2017-10-20T22:54:51+00:00 October 20, 2017|Deduction & Credits|0 Comments

Taxable Income vs. Nontaxable Income: What You Should Know

Taxable Income vs Nontaxable Income: What You Should Know We all have that feeling that the government is always on the lookout for extracting more taxes from us. That feeling is not too far off if you take into consideration the definition of taxable income. Once all your deductions are taken away from the [...]

2017-10-13T15:33:47+00:00 October 13, 2017|Tax Planning, Tax Preparation|0 Comments

401(K) Other Qualified Pre-Tax Retirement Accounts

401(K) Qualified Pre-Tax Retirement Accounts Increased life expectancy means you have more years to yourself post retirement. And with the constant rise in commodity prices, you would need more money to cover your retirement comfortably. Thus, spending time on your retirement plans is something that will surely pay off in the longer run. In [...]

2017-10-10T15:39:30+00:00 October 10, 2017|401 Plan|0 Comments

1040, 1040A, 1040EZ Which Tax Form Should You File?

1040, 1040A, 1040EZ Which Tax Form Should You File? When it comes to federal income tax filing, there are three forms available for filing the returns IRS Form 1040, IRS Form 1040A and IRS Form 1040EZ. And this is the part that confuses most Americans, which form to choose. Each form has a different [...]

2017-10-06T15:41:39+00:00 October 6, 2017|Tax Preparation|0 Comments

Information about Educator Expenses

Information about Educator Expenses The Internal Revenue Service or IRS allows individuals to claim expenditure such as classroom supplies and materials as tax deductions. This comes in really handy, as there are enough reports and data to show that schools are inadequately funded. And it translates to teachers ending up paying for these supplies [...]

2017-10-03T16:58:16+00:00 October 3, 2017|Education|0 Comments

Earned Income Tax Credit

Earned Income Tax Credit What is Earned Income Tax Credit? Earned Income Tax Credit or EITC is a mechanism that aims at supporting families with low to medium earnings. It is a refundable credit system that supplements individuals or families if they have been working (either self-employed or working for someone else). On qualification [...]

2017-09-29T09:29:02+00:00 September 29, 2017|Deduction & Credits|0 Comments

The Absolute Cheat Sheet On Register Business in USA

The Absolute Cheat Sheet On Register Business in USA When you create a new company or want to take your small business to a new level, there may be several questions related to how Indians register a business in the United States. This is a concept that is not familiar to many companies, since [...]

2017-09-26T11:18:30+00:00 September 26, 2017|New Business|0 Comments

How Far Would I Go Back to Amend My Income Taxes?

How Far Would I Go Back to Amend My Income Taxes? The question of how far can one go back to correct a previously filed income tax return is not only time sensitive but also quite dicey (legally speaking), especially for foreigners living permanently or temporarily in the United States. But before that, let's [...]

2017-09-22T12:07:00+00:00 September 22, 2017|Amendment of Tax Return|0 Comments

Guide to Starting a Business in the USA – Ease Your Business Journey

Guide to Starting a Business in the USA – Ease Your Business Journey To many, the US is the ultimate business destination. It is the land of opportunities and many people will not let the chance to start a business in the USA, pass them by. However, starting a business in the US is [...]

2017-09-19T11:16:59+00:00 September 19, 2017|New Business|0 Comments