The budget for 2020-21 has introduced a new tax regime, which an individual tax payer can opt, of lower tax rates coupled with a very few deductions avail...

If you are married, federal law says your spouse is automatically the beneficiary of your IRA or 401k or pension plan (via the spousal benefit, if availab...

Depending on the area where you live, your mobile home may qualify for permanent residence status. Converting a mobile home to a permanent residence often...

At this point, you might be asking, “Can I write off my car payment?” Unfortunately, the answer from the IRS is no. If you are purchasing a car exclusivel...

Does Indian Income Tax act allow depreciation on assets purchased on second hand to any entity Sole proprietor, partnership. How long does it take a new c...

Adjustments to income are expenses that reduce your total, or gross, income. You enter income adjustments directly onto Form 1040 of your tax return. That...

A sell-off occurs when a large volume of securities are sold in a short period of time, causing the price of a security to fall in rapid succession. As mo...

1. Coaching/Consulting. Just because you’re retired and have left the workforce, it doesn’t mean your knowledge and skills have left as well. Starting a h...

New Income Tax Slab for FY 2020-21 & AY 2021-22 Annual Income New Tax Regime Old Tax Regime Rs.7.5 lakh – Rs.10 lakh 15% 20% Rs.10 lakh – Rs.12.5 lakh...

Realized capital losses from stocks can be used to reduce your tax bill. If you don’t have capital gains to offset the capital loss, you can use a capital...