updates

How are bond premiums treated for tax purposes?

If the bond is a tax-exempt municipal, you report the loss of premium value and subtract the loss from the cost basis of the bond, but you don’t subtract ...

Sep 07, 2026 • 1 READS

updates

How much of the 2000 child tax credit is refundable?

This new tax plan included the following changes to the CTC: The credit amount (per child) increased from $1,000 to $2,000. The CTC is refundable up to $1...

Sep 07, 2026 • 1 READS

updates

Is loo a slang word?

“Loo” is, of course, slang, primarily British, for the toilet, restroom or bathroom (or whatever your favorite euphemism might be). The origin of “loo” ha...

Sep 07, 2026 • 1 READS

updates

What are examples of business personal property?

Business personal property includes: Office supplies: pens, staplers, and calculators. Furniture: chairs, desks, and tables. Furnishings: rugs, blinds, an...

Sep 07, 2026 • 1 READS

updates

How long does it take to get cash from home equity loan?

The truth is that home equity loan approval can take anywhere from a week—or two up to months in some cases. Most lenders will tell you that the average w...

Sep 07, 2026 • 1 READS

updates

How to file a joint income tax return?

How Do You File Jointly? 1 Notify the IRS of any address changes. If you moved, be sure to notify the IRS of your address change by filing Form 8822. 2 Te...

Sep 07, 2026 • 1 READS

updates

Which contract is forbidden by law?

A void contract, also known as a void agreement, is not actually a contract. A void contract cannot be enforced by law. Void contracts are different from ...

Sep 07, 2026 • 2 READS

updates

When did the exit tax in NJ start?

However, many people were leaving the state without paying this tax. To stop this New Jersey passed legislation (which went into force on June 29, 2004) t...

Sep 07, 2026 • 1 READS

updates

What taxes do you not pay when deployed?

Any form of pay earned while on deployment in a combat zone is excluded from federal income tax. This translates to a significant tax savings for the acti...

Sep 07, 2026 • 1 READS

updates

What is a limitation of profit-sharing plans?

Limitations to profit sharing plans Employers can only deduct contributions to retirement plans of up to 25% of total employee compensation. Total contrib...

Sep 07, 2026 • 1 READS