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

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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

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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?

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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

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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

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  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?

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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?

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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?

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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

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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?

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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 [...]