What does the Commerce Clause mean for the states?
The Commerce Clause refers to Article 1, Section 8, Clause 3 of the U.S. Constitution, which gives Congress the power “to regulate commerce with foreign n...
Category: General
Can I claim my 18 year old as a dependent?
Answer: Deena – Generally parents do claim their 18 year old high school students as dependents. – You cannot claim a person as a dependent unless that pe...
What is it called when the ratio of taxes paid to income is constant?
A proportional tax is an income tax system that levies the same percentage tax to everyone regardless of income. A proportional tax is the same for low, m...
Do you have to pay taxes on cash you receive from your parents?
When you receive cash from your parents, the IRS does not consider it taxable income unless your parents have paid the cash as income for a job you’ve don...
What is a tax on foreign imports meant to protect domestic industry called?
Key Takeaways. Tariffs are a tax on imports paid by importing companies in the country that imposed the tax. The cost is usually passed on to consumers. T...
What cars are illegal to import in the US?
What Cars are Illegal in the US? 1990 BMW M3 Sport Evolution III. 1993 Jaguar XJ220-S. 1993 Lamborghini Strosek Diablo. 1996-2001 Lotus Elise S1 and the 2...
What do we import from Indonesia?
Its key imports include machinery and equipment, chemicals, fuels, and foodstuffs. Major exports include oil and gas, electrical appliances, plywood, rubb...
Can I claim my parents as dependents if they receive Social Security?
To qualify as a dependent, Your parent must not have earned or received more than the gross income test limit for the tax year. Generally, you do not coun...
How much does the element radon cost?
Radon is available at a cost of about $4/mCi. What is the cheapest element to buy? Chlorine, sulfur and carbon (as coal) are cheapest by mass. Hydrogen, n...
Is Bahamas a tax free country?
Citizens of the Bahamas do not pay taxes on income, inheritance, gifts, or capital gains. The Bahamian government uses revenue from sources like VAT and s...
