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Is Military Differential Subject To FICA Withholding? How Does This Affect My Social Security Benefits?
User Photo Steven Potts JD EA IAR
Tax Professional Level: Tax Enthusiast

For purposes of Social Security coverage, section 209(a) of the Act defines wages as “remuneration…for employment” and section 210(a) defines employment (in part) as “any service…performed…by an...   Read More
I Have An Active Duty Employee In The Middle East Who Is Receive Military Differential Pay. What Do I Need To Know About Reporting These...
User Photo Steven Potts JD EA IAR
Tax Professional Level: Tax Enthusiast

The HEART Act (Heroes Earnings Assistance and Relief Act of 2008) provides that, for purposes of income tax withholding, any differential wage payment is to be treated as a payment of wages by the employer to the...   Read More
If I Am A Non Resident Alien Working In The United States, Am I Responsible For Self Employment Tax?
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

Depends on what type of visa you are on, where the visa is from and how long you have been and plan to be in the US details please.   Read More
As A Visiting Professor Teaching Students Another Language, I Am Here In The United States For Six To Nine Months. Am I Required To Pay...
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

Depends on the type of visa you are on and what country your visa is from. More info please.   Read More
What Are The IRS Requirements For A Depreciation Deduction To Be Allowed For My Business? What IRS Form Is Used To Report Depreciation On A...
User Photo John Dundon, II EA
Tax Professional Level: Tax Wizard

IRS Form 4562 found here -> http://www.irs.gov/pub/irs-pdf/f4562.pdf Instructions found here -> http://www.irs.gov/pub/irs-pdf/i4562.pdf Also check out IRS Publication 946 on how to depreciate property found...   Read More
What Is The Easiest Way To Find Out If The United States Has An Income Tax Treaty In Force With Another Country?
User Photo Kathryn Morgan
Tax Professional Level: Master Tax Advisor

Go to IRS.gov and in the search box type "tax treaty" and the name of the country. This should bring up both the treaty and technical analysis. Read the technical analysis first.   Read More
What Is A 1031 Tax Deferred Exchange?
User Photo William Keats
Tax Professional Level: Master Tax Advisor

A 1031 Tax-Deferred Exchange (TDF) is the exchange of one type of business or investment property for a like-kind of business or investment property. It cannot include property for sale to customers or property...   Read More
What Are The Benefits Of Doing A 1031 Tax Deferred Exchange Versus A Sale?
User Photo William Keats
Tax Professional Level: Master Tax Advisor

In a sale of the property, any gain on the sale would be taxed. In an exchange, the tax is deferred until such time the acquired property is sold.   Read More
My EA Told Me That I May Be Eligible For An Earned Income Tax Credit. What Is An Earned Income Tax Credit?
User Photo Telemika Greene
Tax Professional Level: Tax Enthusiast

Earned income Tax credit is a refundable federal income tax credit for low to moderate income working individuals and families. Individuals may receive refunds more than what was withheld in federal with holding...   Read More
Our Lawyer Is Trying To Talk Us Into An Irrevocable Trust And We Understand That We Would Need To File A Tax Return With It. We Were Told...
User Photo William Keats
Tax Professional Level: Master Tax Advisor

This is more of a legal determination and does require the services of a lawyer, one who will tell you the pros and cons between a revocable trust and an irrevocable (inter vivos) trust. However, the inter vivos...   Read More


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