Married couples can sponsor each other, so that if one spouse is a US citizen or permanent resident, he or she can sponsor their husband or wife to enter ...

If the alimony is being paid on a monthly basis, the Supreme Court of India has set 25% of the husband’s net monthly salary as the benchmark amount that s...

There was a time that there was no tax. But gradually, it became the norm. At first, taxes were imposed on people in times of war to aid the defence. But ...

It is correct that severance pay is calculated at one week’s remuneration for each completed year of continuous service. This is in terms of s 41(2) of th...

You may have to recapture the section 179 deduction if, in any year during the property’s recovery period, the percentage of business use drops to 50% or ...

If you did not, when you sell your rental home, the IRS requires that you recapture all allowable depreciation to be taxed (i.e. including the depreciatio...

The life insurance company generally invests this money in a conservative-yield investment. As you continue to pay premiums on the policy and earn more in...

Most financial planning studies suggest that the ideal contribution percentage to save for retirement is between 15% and 20% of gross income. These contri...

About Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. File Form 1099-R for each p...

A “tax year” is an annual accounting period for keeping records and reporting income and expenses. An annual accounting period does not include a short ta...