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Do I have to report income from eBay sales?
If you sell and buy articles on eBay in order to earn money, the IRS will likely classify your sales activities as a business. This means you will have to...
Category: Arts
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Do you have to pay taxes on foreign inheritance?
No, the IRS does not impose taxes on foreign inheritance or gifts if the recipient is a U.S. citizen or resident alien. However, you may need to pay taxes...
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Is it legal to live in a 5th wheel in California?
As long as the RV allows living, sleeping, eating, cooking, and sanitation, and is situated on the same land as the permanent residence, it should be able...
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How much is a 2000 Mazda MPV worth?
The value of a used 2000 Mazda MPV ranges from $271 to $1,983, based on vehicle condition, mileage, and options. Is Mazda MPV a good van? The MPV is one o...
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Who qualifies for IBR?
To enter IBR, you have to have enough debt relative to your income to qualify for a reduced payment. That means it would take more than 15% of whatever yo...
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Do you have to pay yourself in as corp?
If you have an S corp, then probably the most relevant IRS regulation for you is that if you’re a shareholder-employee, you must pay yourself a “reasonabl...
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Are tax preparation fees deductible for trusts in 2019?
Section 67(e)(1) and Treasury Regulation Section 1.67-4 provides, in particular, that tax preparation fees, appraisal fees, attorney fees, trustee fees, a...
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Can a non profit make a profit on its operations?
Under state and federal tax laws, however, as long as a nonprofit corporation is organized and operated for a recognized nonprofit purpose and has secured...
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How many years can you claim American Opportunity credit?
four years American Opportunity Credit You can claim the credit on your taxes for a maximum of four years. Your parents will claim the credit if they paid...
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Is interest on dividends tax deductible?
The tax benefits provided by the investments, including exempt-interest dividends, are lost if the investments are held in an individual retirement accoun...
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How long does it take to release inheritance money?
If probate is needed to close a deceased person’s bank account, then the bank won’t release the money until they have the Grant of Probate. Once the bank ...
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Can I buy foreign currency in cash?
How much foreign currency can be bought by using cash payment? One can buy forex equivalent to 50,000 INR through paying by cash. Beyond this amount, all ...
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What are the options for receiving pension payments?
Typically, pensions are offered as a lump-sum payment or a lifetime monthly payment. It is possible to take less money from a pension option to provide a ...
