The Mortgage
Everyone general knows that there is one major tax deduction that every homeowner wants to claim on a personal tax return, it is the home mortgage interest. In fact, it is the second biggest federal tax expenditure, projected to be…
Taxing a business
Well, as the New Year approaches, one may decide to go into business for himself/herself, and as discussed before, there are the three major types of formations of a business, the sole proprietorship, the partnership, and the corporation. What was…
Starting something new for the New Year
Since we are concluding 2014, they is usually the time one starts making “New Year’s Resolutions” to improve oneself (be it losing weight, exercise more, becoming a nicer person, spend less money, save more, etc.), one may make a major…
Having a job abroad
Going with a theme from the last few blogs, about foreign disclosures and earning/receiving foreign income sources, another question that concerns US citizens (and resident aliens) what if such a persons has a job aboard? Remember, any US citizen (or…
Another tax year
Another tax season year has passed, since October 15, 2014, and still a person’s tax return has not been filed (Gulp!). So what are the ramifications for filing late? Generally speaking there are penalties, as well as interest, on any…
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