How TCJA has affected alimony payments

TCJA-Affects-on-Alimony-Payments Divorce can be tough, both emotionally and financially. This becomes even worse for people who land on the wrong side of the alimony wagon - the added grief of figuring out the financials makes coping with the separation even worse. The financial arrangements can get tricky, especially with the ever-changing tax laws and their seemingly confusing [...]

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Tax norms for American Expats: Everything you need to know

Often, Americans who move abroad are not aware of their tax obligations to the US government. This happens because they often live under the false belief that they are [...]

IRS waives late tax payment fees

Did you miss out on paying your tax liabilities in the fiscal year 2017-2018? We might have some good news for you! The US Federal income tax works on a [...]

What to do next after starting your own business?

Calling on all the budding entrepreneurs out there! Here’s to you - the self-employed, the self-made, the pioneers of the business world! People who pour their blood, sweat, [...]

Tax Credits for Your Family You Can Write Off

With the tax season in full swing, you must be looking for ways to maximize your tax credits along with gaining hefty deductions. As a family person you work hard day in, [...]

All You Need to Know About W-2 Forms

  As per IRS, every employer engaged in a trade or business who pays remuneration, including non-cash payments of $600 or more for the year for an employee for the [...]

Do I need to file 1040 if I’m self employed?

The 1040 form is the standard federal income tax form used to report an individual’s gross income. It is applicable even to the self-employed lot, with a threshold of [...]

Are 401K Savings Deductible From Your Taxes?

The 401K is an employer-sponsored plan that allows an individual to replenish their retirement funds in a tax-sheltered manner. The limit is set to be $18,500 for the [...]

Is your client the subject of an FBAR examination?

FBAR or Foreign Bank and Financial Accounts report is required to be filed by a person residing in the USA, a domestic partnership, a domestic corporation, or even a [...]

Demystifying Life Insurance – one myth at a time

Life Insurance policies are often surrounded by a canopy of myths and confusion. This is mostly due to a lack of awareness which leads to a lot of hesitant and anxious [...]

Tax Credit and Tax Deduction – what’s the difference?

How many times have you heard the terms “tax credit” and “tax deduction” being used while wondering if they mean the same thing? Well, let us clear that up for [...]