general

What is the meaning of AGI number?

Adjusted Gross Income (AGI) is defined as gross income minus adjustments to income. Your AGI will never be more than your Gross Total Income on you return...

Jul 28, 2026 • 1 READS

general

How much money can I contribute to a traditional IRA?

While anyone can contribute up to $6,000 (or $7,000 for individuals age 50 and older) to a traditional IRA, not everyone can deduct that full amount on th...

Jul 28, 2026 • 1 READS

general

Do you pay tax on rent in NYC?

Tax Rates. The tax rate is 6% of the base rent. All taxpayers are granted a 35% base rent reduction, which reduces the effective tax rate to 3.9%. In addi...

Jul 28, 2026 • 1 READS

general

How to claim a dependent on your tax return?

1 Dependents can have their own tax returns, and even be married, but they must not have filed a joint tax return for the year unless it’s just to claim a...

Jul 28, 2026 • 1 READS

general

Is w4 different for 2020?

The IRS overhauled the process for determining how much federal income tax to withhold from an employee’s paycheck. As part of the fix, there’s a new Form...

Jul 28, 2026 • 1 READS

general

Can I sponsor my husband to Canada if I am a student?

Yes, you may be able to bring your spouse or common-law partner, and dependent children, with you to Canada. They may be eligible for a study or work perm...

Jul 28, 2026 • 1 READS

general

Can tin be used instead of EIN?

Take an analogy. You can think of a TIN as a parent and an EIN as a child. An EIN is a type of TIN, but not vice versa. That means, when asked for your EI...

Jul 28, 2026 • 1 READS

general

When should I itemize my deductions?

You should itemize deductions if your allowable itemized deductions are greater than your standard deduction or if you must itemize deductions because you...

Jul 28, 2026 • 1 READS

general

Do you have to file taxes as a business?

Income Tax. All businesses except partnerships must file an annual income tax return. Partnerships file an information return. The form you use depends on...

Jul 28, 2026 • 1 READS

general

Is the foreign company required to file a US tax return?

Every foreign corporation that is engaged in a trade or business in the United States is required to file a U.S. corporate income tax return (Form 1120-F)...

Jul 28, 2026 • 1 READS