If changing the ownership of 529 plans from grandparents to parents is recommended, there should not be any adverse tax consequences. The IRS allows one t...

If you’ve received one of the grants mentioned above and used the money appropriately, the grant money is not taxable. Any loans you take out to pay for e...

While there are some who would advise against it, investing with a personal loan is a good idea if you’re confident you have the skills. There are no guar...

To qualify for bona fide residence, you must reside in a foreign country for an uninterrupted period that includes an entire tax year. During the period o...

At the beneficiary’s death, in most cases the SNT will be terminated. A that point, the trustee is responsible for dissolving the trust and fulfilling the...

Automated Phone System: Call 800-321-1080. Select option 1 for Military Retired and Annuitant Pay. Select option 1 “To Use our automated self-service syst...

How to File Your Taxes in 5 Simple Steps Step 1: Gather Your Tax Documents. Step 2: Choose Between the Standard Deduction or Itemizing. Step 3: Pick a Fil...

Partnership income (or a loss) is distributed to the partners based on their ‘share’ of the ‘net income of the partnership’ (income minus expenses). A par...

Wealthsimple In 2019 Wealthsimple purchased 100% of SimpleTax. Wealthsimple has mentioned that they loved the software so much, they decided not to change...

HOWEVER, if an employee receives 4 weeks’ pay in advance in lieu (instead) of working and is NOT required to work through the 4 week notice period – then ...