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Tag Archive for Wages

IRS Baby Boomer American Dream Trap

Rodney Kooi, Tax Connections

I always felt sorry for people in their 60s, 70s, and even 80s having to make mortgage payments.  To see someone living on social security and still making $1,500 per month house payments is not an ideal situation to be in. This often happens when a baby boomer pockets part of the equity received in selling a home and then getting another 30-year mortgage.  Next thing you know is that you are 60 and have 25 years left to pay on your mortgage. Read more

Tax Consequences For Foreign Students…Think F, J Visas

My husband and I chartered a course ourselves long ago in the stormy waters of visas, tax treaties and tax consequences. Considering taxes have just got even more complicated, so its no surprise that I field quite a lot of questions from various visa holders especially foreign students on F-1 visas. Suffice to say that the range of information for foreign students is too much to cover in one blog post, so I will focus on the main points. If you need any more information, you know where to reach me!

If you are a foreign student, you already know from your university that you are one of those who are subject to special rules with respect to the taxation of your income. Usually a foreign student is on an F, J, M, or Q visa. Read more