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TAX IMPLICATIONS ON SELLING A HOME IN THE US

TAX IMPLICATIONS ON SELLING A HOME IN THE US You may owe capital gains tax and net investment income tax (NIIT) if you're selling your home or you sold one in 2021. Gain exclusion If you're selling your principal residence,…
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Taxability of payment done for Online Marketing & Advertising Services

Taxability of payment done for Online Marketing & Advertising Services Online advertising on websites /search engines has become an important advertising and marketing tool for present day businesses. However, the taxability of such transactions has been a matter of debate…
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“Non-US person” may end-up paying US Tax on Worldwide Income and providing US Tax Reporting

“Non-US person” may end-up paying US Tax on Worldwide Income and providing US Tax Reporting Recently, in several matters non-US persons may became US tax residents by staying in the US for a sufficient number of days. This frequently can…
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Some moves to lower your 2021 US Federal Tax liability

Some moves to lower your 2021 US Federal Tax liability With the 2021 year ending, one needs to consider making some moves that will lower your 2021 US Federal Tax liability. Here are a few tips one may consider: Accelerating…