A day trader employs the rise and fall of stock prices, hoping that it will result in net profit over a year. This means there will be a tax on the proceeds. There are, however,...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Even if every other thing seems uncertain, payment of tax will always be certain. Even when the Coronavirus dealt a massive blow on the whole earth, Uncle Sam still managed to have...
Posted by Schneiderman and Friedman on 01/27/2021
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
Audits, collections, taxes, and fees - these conditions can sow fear in taxpayers' hearts during tax season.You may be concerned that an error in your tax return could result in...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
If you do not pay your taxes on time, interest and penalties will accrue with time. As a result, it is in the best interest of taxpayers to make payments when due. Statute of...