Type of Aliens: Any individual who is not a United States citizen or U.S. national is termed as ‘alien’ for tax purposes. If you are not a citizen of U.S. and failed to pass green card test or substantial presence test, you will be considered as a nonresident alien. And if you pass any of […]

Employee Stock Purchase Plan: The ability to buy stocks is one of the most cogent benefits that employees can be offered by any publicly traded organization. The Employee Stock Purchase Plan (ESPP) is one of the most undemanding ways of doing this amongst several other ways that exist. The ESPP plans provide an uncomplicated, easy […]

Are Gambling Winnings Taxable? Playing gambling in the United States is legal, while playing gambling you should make a note of the transactions, gambling winnings must be reporting the income to the Internal Revenue Service (IRS) and based on your eligibility of Itemized Deductions you can deduct gambling losses up to the gambling income. You […]

Profit or Loss from Business (Sole Proprietorship) Schedule-C It could be a confusing situation about reporting your self-employment income (1099 NEC) along with your employment income (form W2). Determining your self-employment income tax reporting, in other words it is called as profit or loss from a business reporting to be submitted with the Internal Revenue […]

Income Tax Benefits Information for H1B Visa Holders in USA H1B Visa Holders in USA do find difficulty in knowing about their eligible deductions and credits, having better understanding about credits and deductions will possibly reduce your tax liability and increase tax refunds. There has been much efforts from our side helping all H1B and […]