updates
Do I need to send form 8453?
Form 8453 is required to be filled out and mailed to the IRS when one or more of the forms below are included in an e-filed return. (See below for the mai...
Jul 22, 2026 • 1 READS
general
Is South Carolina a tax lien state?
As South Carolina is not a tax lien state, buyers purchase an interest in land, rather than a lien. Investors usually receive anywhere from 3% – 12% back ...
Jul 22, 2026 • 1 READS
updates
How do I get a wholesale license in Nevada?
First you need a sales tax id number AKA seller’s permit that you call wholesale license because you sell taxable items. Second, a business tax registrati...
Jul 22, 2026 • 1 READS
general
Is interest on New York State bonds taxable?
Generally, interest earned on New York State Bonds is exempt from federal, state, and local income taxes. However, certain New York State Bonds offer inte...
Jul 22, 2026 • 1 READS
general
What is Allowances not exempt in ITR 1?
Allowances not exempt from tax Some of them are tax exempt up to a certain amount, whereas some are fully taxable. Transport allowance for and up to FY 20...
Jul 22, 2026 • 1 READS
updates
Do you need a partnership to own a rental property?
Co-ownership of Rental Real Estate Does Not Require Partnership Formation. Generally co-ownership in rental property does not require the formation of a p...
Jul 22, 2026 • 1 READS
updates
Can you sell RSU immediately?
In most scenarios when your RSUs vest you can sell them immediately and there is almost no tax impact. However, if the stock reverts to the original IPO/V...
Jul 22, 2026 • 1 READS
updates
What does a 1031 exchange mean for the buyer?
A 1031 exchange allows you to sell one investment or business property and buy another without incurring capital gains taxes – as long as the exchange is ...
Jul 22, 2026 • 1 READS
general
What information do you need to submit a 1096?
How to Fill Out and Read Form 1096 First, enter the name of your business (under “FILER’s name”) and address; the name of the person to contact; and that ...
Jul 22, 2026 • 1 READS
updates
Can I withdraw money from my defined contribution pension plan?
Defined contribution plans require that you collapse the plan by the end of the year you turn 71. At that point, you can withdraw the funds and pay tax on...
Jul 22, 2026 • 1 READS
