The American opportunity tax credit lets you claim all of the first $2,000 you spent on tuition, books, equipment and school fees — but not living expense...

Often, a major determinant of an individual’s status as a resident for income tax purposes is whether he or she is domiciled or maintains an abode in the ...

An LLC can be set up as a holding company, but when it is it will have no operation or function other than owning the other company and their assets. The ...

New Jersey requires you to obtain tax clearance before you can dissolve your corporation. You must file a Department of the Treasury (“DOT”) Form A-5088-T...

If you don’t qualify to make a deductible contribution, you can still put money in a traditional IRA. With a Roth IRA, if you make too much money, the opt...

A married couple can get greater charitable contribution deductions. Also for 2020, you can deduct up to $300 per tax return of qualified cash contributio...

90 days US passport must be valid for a minimum of one day from the day you enter Costa Rica. As a tourist US nationals cannot stay more than 90 days. For...

Any money you contribute to a traditional IRA that you do not deduct on your tax return is a “nondeductible contribution.” You still must report these con...

To avoid capital gains tax on your home, make sure you qualify: You’ve owned the home for at least two years. This might be troublesome for house-flippers...

Most expats do not pay US expat taxes because of the Foreign Earned Income Exclusion and Foreign Tax Credit benefits. However, expats still need to file t...