Several recent developments may affect taxpayers based on a strategy of trading or holding tax-exempt state and local bonds, commonly known as municipal or "munis" bonds....
The non-profit status may make an organization eligible for certain benefits, such as exemptions on state sales, property tax, and income; however, this corporate status does not automatically...
Many baby boomers and retirees prefer to invest in savings bonds because they are safe and convenient investments, but stocks don't always earn interest. Over time, they expire,...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
When it comes to taxes, people often make mistakes which are quite normal. However, when these mistakes lead the IRS to perform audits of your business or personal assets, repaying...
Taxpayers are always looking for legitimate ways to save on taxes and with the right tax preparer, you will always get advice on ways to save on the amount you pay for taxes each season....
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
The Income Tax Service has classified the income of Indian citizens into five different categories, depending on their source of income. These categories mainly include homeownership,...