Does your home have to be paid off to get a reverse mortgage?
To be eligible for a reverse mortgage, the primary homeowner must be age 62 or older. Any existing mortgage you have must be paid off using the proceeds f...
Category: General
Is an outright gift a trust?
An outright (or absolute) gift passes directly to the intended recipient and is then theirs to do with as they wish. By contrast, a gift in trust means th...
What kind of documentation can I submit for proof of income?
The most common documentation for proof of income includes: Pay stub Bank Statements (personal & business) Copy of last year’s federal tax return Wage...
What forms is the IRS accepting electronically signed?
Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return; Form 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts; Fo...
Can an HOA be an LLC?
An HOA is a legal entity and as such it should be created as a limited liability corporation (LLC) or a nonprofit. How do I set up a condo association? Ho...
Are there any exceptions to the early withdrawal penalty?
Form 5329 exceptions to early withdrawal penalty codes are: 01 — Distributions from a qualified retirement plan (not an IRA) after separation from employm...
What day is nature photography Day?
June 15 What is Nature Photography Day? Each year, June 15 is designated by the North American Nature Photography Association (NANPA) to promote the enjoy...
Are Aflac cancer premiums tax deductible?
Premiums on accident and health policies like some AFLAC policies (generally, policies that pay you a guaranteed amount each week for a stated number of w...
Are US capital gains taxed in Germany?
American Living in Germany: Other Taxes Investment and Capital Gains Tax – This is a flat rate of 25%. Losses on investments and the sale of assets can be...
What is the Philadelphia wage tax?
3.8398% Here are the new rates: The new Wage Tax rate for residents is 3.8398%. The Earnings Tax rate for residents is also decreasing from 3.8712% to 3.8...
