Foreign Tax Credit (FTC): If you are earning some taxable income from a foreign country and you are not a legal resident of that country, then you are subjected to pay relevant taxes to that foreign country, further to this the country where you are permanently residing and of which you are a legal citizen, […]
Flexible Spending Account
Flexible Spending Account (FSA) also recognized as flexible spending arrangement is one of the obtainable options to avail tax benefit and allows you to spend this pre-tax money for paying eligible health care expenses or eligible non-medical expenses, even purchase of certain qualified medical equipment like diagnostic devices, bandages, crutches. FSA is being set up […]
What is Adjusted Gross Income?
Adjusted Gross Income Reduces Your Taxes Drastically Is it easy to understand your Adjusted Gross Income? Yes! This article of AGI-Adjusted Gross Income will undoubtedly help you to understand the AGI in a much easiest way, so read further….. Knowing your Adjusted Gross Income is extremely important, because it’s a matter of saving your active/passive […]
Wash Sale Rule: Benefits And How To Avoid It?
What Is The Wash-Sale Rule? A wash sale occurs when a trader buys and sells the same stock, or substantially similar security in order to claim a loss within 30 days. How Does Wash Sale Occur? Wash sale occurs in one of the two ways mentioned below. A substantially identical security is purchased or sold […]
How To File Taxes: Guide for Filing Your 2022 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 […]