At the other end of the spectrum, there are the costs that are put towards maintenance of the rental property, which are also tax deductible. The ATO reco...

Generally this is reported as tax-exempt interest on the tax return on Form 1040, Line 8b. However, in certain cases a portion of this amount may be consi...

Sales of parts purchased for use in performing service under optional maintenance contracts are exempt from the sales tax in Ohio. Is Tea taxed in Ohio? B...

If you are a Green Card holder living in India, you would qualify as a resident in India and therefore will have to pay taxes and file returns in India on...

You can deduct any legal fees you paid in the year to collect or establish a right to collect salary or wages. You can also deduct legal fees you paid in ...

Depreciation is not allowable for tax. Instead you may be able to claim the cost of some assets against taxable income as capital allowances. What are typ...

A trade or business operates for gain or profit. However, trusts are not included, as they are not considered to be a trade or business. Since the fees re...

sales with cost basis Short Terms sales with cost basis means that both the sales proceeds and cost are reported to the IRS so that they and you have the ...

The notice CP3219A is generally a follow up letter after the IRS sends you a CP2000 but doesn’t hear back. If you don’t respond to the CP2000 in the given...

Non-deductibility extends to legal fees incurred in disputes over money claims. However, legal and accounting fees paid for tax advice in connection with ...