Gain received on the sale of capital assets are taxed at special rates or ordinary rates based on the holding period of the said asset. However important tax planning which was done by taxpayers was to sell the security for loss and buy it back again, this creates capital loss and it can offset the ...

What does FIRPTA mean for a Buyer? The Foreign Investment in Real Property Transfer Act (FIRPTA) requires any buyer of a U.S. real property interest to withhold 15% of the amount realized by a foreign seller. What is the purpose of FIRPTA? FIRPTA is a federal tax law that ensures that foreign seller...

Tax Deductions for the Self-Employed indeed come with attractive benefits. When you act as your own boss, there are myriad financial flexibilities that come with it. However, you also have the hassle to manage your tax liabilities optimally. You can effectively manage your expenses and reduce the bu...

The tax filing rules for residents and non-residents can be poles apart in the US. With an elaborate set of laws for American citizens, resident aliens, as well as non-resident aliens, it is imperative to understand the technicalities involved for these categories of taxpayers. If the government fin...

Retirement is an inevitable phase of our life. To enjoy a peaceful, secure, and delightful retirement, you must first establish the financial safety net that will cover it all. It is fundamental to pay attention to the serious and maybe dull portion of figuring out how to undertake adequate retireme...