Standard deduction: When to claim more & when you can’t claim a penny?
The standard deduction is the hassle-free deduction under the Internal Revenue Code that is available to almost every taxpayer who...
Prashant Thakur is a tax advisor . He has written two books on tax laws of India. He regularly writes on his paid-only website http://taxworry.com. He is learning about the Internal Revenue Code of USA as many of clients and readers are of India origin and also are tax resident of USA . So . solving their tax issues require reference to IRC of USA.
The standard deduction is the hassle-free deduction under the Internal Revenue Code that is available to almost every taxpayer who...
Marriage is a responsibility! The Federal tax law takes this seriously and literally. So, when you are married and filing...
IRC 121 exclusion provides that when you sell your "principal house", you may be able to exclude a portion or...
Under U.S. tax laws, properties are primarily categorized as "principal residences" or "investment properties" or a "mixed-use property". This is...
When you trade, sell of cryptocurrency , or exchange a digital asset (read cryptocurrencies), it will always give rise to...
When selling a house, understanding the intricacies of determining the taxable gain or loss from the sale of property is...