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 […]

What is Married Filing Jointly (MFJ)?

Married Filing Jointly – MFJ: Both the spouses income whether earned or unearned income can be added on Married Filing Jointly tax return, in turn a primary tax payer can claim a standard deduction amount of $24000 on tax returns. Even if one spouse has income and the other does not still a husband and wife […]

Standard Deduction

Standard Deduction for Tax Year 2018 One hundred fifteenth congress of the United States of America, under section 11000 short title standard deduction for tax years 2018 up to 2025 has been amended. Standard Deduction definition? United States of America tax law considers a federal standard deduction or state standard deduction is a fixed dollar […]

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 […]

Can I Choose Single Tax Filing Status, How & Why?

Single Tax Filing: We have taken this opportunity to give you brief information about determining your exact filing status so that you can file accurate tax returns, let go through the information below. What is Single Tax Filing Status? A tax payer has to determine his tax filing status to get better tax benefits let […]