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William KeatsTax Professional Level: Master Tax Advisor
You are referring to the Small Business Health Care Tax Credit. This credit began in 2010. This credit is allowed for a small employer to purchase health insurance for all your employees. This credit was created... Read More
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Gary Carter, PhD, MT, CPATax Professional Level: Tax Enthusiast
The rule under Sec. 7701(b)(5) of the Code says that a J-1 visa holder is treated as an "exempt individual" (a nonresident) for two calendar years, only if the individual was not an exempt individual (a nonresident)... Read More
William KeatsTax Professional Level: Master Tax Advisor
Seventeen states are establishing healthcare exchanges, now referred to as marketplaces. The other states will have exchanges set up by the federal government. Premiums will vary. In CA insurance rates, as a... Read More
William KeatsTax Professional Level: Master Tax Advisor
You must file an 83(b) election within 30 days of the date you received the restricted stock. The election must be made with the specific IRS office where you file your annual tax return, and you must include a... Read More
Patrick O'Hara , EATax Professional Level: Tax Enthusiast
The American Taxpayer Relief Act of 2012 retroactively renewed this tax credit effective January 1, 2012, expiring again on December 31, 2013. Any qualified equipment installed in 2012 or 2013 is eligible for this... Read More
Lisa Nason CPA, MSTTax Professional Level: Tax Enthusiast
The recently enacted tax law does extend the $250 educators deduction for teachers. Any amounts over the $250 can go on Schedule A, as unreimbursed employee expenses, assuming you itemize on your return. Read More
Patrick O'Hara , EATax Professional Level: Tax Enthusiast
Section 204 of the American Taxpayer Relief Act of 2012 extended the treatment of mortgage insurance premiums as qualified residence interest through December 31, 2013. Read More
Gary Carter, PhD, MT, CPATax Professional Level: Tax Enthusiast
Here's a chart outlining your filing requirements from the IRS web site: www.irs.gov/Businesses/Comparison-of-Form-8938-and-FBAR-Requirements (If this link doesn't work - copy and paste the full address) If... Read More
Gary Carter, PhD, MT, CPATax Professional Level: Tax Enthusiast
The foreign earned income exclusion of $92,900 for 2011 ($95,100 for 2012) is for one earner, so in your case only $92,900 can be excluded. For any earned income in excess of the exclusion, you can claim the... Read More
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