Simply put, California taxes all capital gains as regular income. It does not recognize the distinction between short-term and long-term capital gains. Th...

Termination for convenience clauses are intended to provide the owner with the option to terminate the remaining balance of the contracted for work for a ...

The interest payments made on certain loan repayments can be claimed as a tax deduction on the borrower’s federal income tax return. These interest paymen...

shareholders A corporation is typically owned and controlled by its members. In a joint-stock company, the members are known as shareholders and their sha...

The following are considered Balikbayans: A Filipino citizen who has been continuously out of the Philippines for a period of at least one (1) year. A Fil...

In case a male dies intestate, i.e. without making a will, his assets shall be distributed according to the Hindu Succession Act and the property is trans...

The Internal Revenue Service can seize all types of retirement accounts, including IRAs, 401k plans, and other self-employed plans like Keogh plans and SE...

The Court will normally consider a 50/50 split of the matrimonial assets when dealing with a long marriage following the ‘yardstick of equality’. With sho...

noun. an institution where people are kept as punishment for committing a crime. A large prison is called a penitentiary and the people who are kept there...

For most college students filing a tax return, that’s the standard Form 1040. You’ll use this form to report your income for the year and filing status, a...