How To File Taxes: Guide for Filing Your 2018 Taxes

How To File Taxes: Is Filing Taxes is a tedious task? Yes! filing the United States Tax Returns has always been a difficult task since there should be a thorough evaluation is required to choose the eligible deductions, credits etc. Choosing incorrect Form, Filing Status, Claiming Ineligible credits and the other tax benefits can lead […]

What is FBAR | FBAR Filing Guide, Deadline & Penalties

FBAR- Foreign Bank Account Reporting Most of the United States tax payers are not aware of FBAR Filing, which is very much mandatory to report. Since April 2013 FinCEN(Financial Crimes Enforcement Network) which is a bureau of Department of Treasury entitled to keenly analyse the foreign bank account transitions in order to contain international money […]

American Opportunity Tax Credit (AOTC) 2018

The American Opportunity Tax Credit (AOTC) is a financial assistance to children or for taxpayers to pursue Post-secondary education. AOTC permits taxpayers to reduce income taxes up to $2500 for each eligible student. IRS allows students who are on H1B, GC, GC EAD, Citizens and Resident Aliens to claim American Opportunity Credit or Lifetime Learning […]

Can I File Head of Household Filing Status?

What is head of household filing status (HOH)? Head of Household (HOH) is a filing status chosen on tax returns to get standard deduction of $18000 for tax year 2018. A taxpayer can choose to file head of household filing status if married or unmarried, but should be taking care of the home or qualified person’s […]

Can I Choose Married Filing Separately?

Married Filing Separately Filing Status There has been always a doubt in choosing the right fling status, to choose whether Single Tax Filing, Married Filing Jointly or Married Filing Separately. Let’s go through the details and information below about eligible filing statuses. What is Married Filing Separately (MFS)? MFS – Married Filing Separately is a […]