Savings bonds issued by the United States are among the safest investment options because they are guaranteed by the federal government and come with no risk. Although the interest rates on these bonds are not as high as those on the stock market, they do provide a less risky source of income. While they cannot … Read more
What Is Foreign Tax Credit (FTC) ? US working abroad It is a common concern for citizens to pay tax twice on the same income. The U.S. has certain safeguards, which ensure that citizens are not double taxed on the same income. Foreign tax credit is one of them, but there are a number of … Read more
What is the Federal Solar Tax Credit ? The federal solar tax credit is a tax credit that can be claimed as a percentage of the cost of a solar photovoltaic (PV) system on federal income taxes. The system must generate electricity for a home located in the United States and be put into service … Read more
What is Residential Energy Efficient Property (REEP) Credit ? The Residential Energy Efficient Property Credit provides an incentive for taxpayers to purchase alternative energy products and equipment for their home. You may be able to take an energy credit if you make a qualified purchase for your home by 2016. There are two types of energy … Read more
What is the Low-Income Housing Tax Credit ? The Low-Income Housing Tax Credit Program is a federally authorized program to promote the construction and rehabilitation of affordable rental housing for not-for-profit and for-profit developers. This program was established by Congress under Section 252 of the Tax Reform Act of 1986 for low-income individuals. Tax credits provide … Read more
What is IRS Form 941 ? IRS Form 941, titled the Employer’s Quarterly Federal Tax Return, is a critical document used by employers in the United States to report income taxes, Social Security tax, and Medicare tax withheld from their employees’ paychecks. The form is filed quarterly and provides the Internal Revenue Service (IRS) with … Read more
✏ Table of Content : What is Form 433-F ? How Does Form 433-F Work ? Who Can File Form 433-F ? When Do You Need to File Form 433-F ? How to Fill Form 433-F ? Where to Mail Form 433-F ? Benefits of IRS Form 433-F What is Form 433-F? Form 433-F, also … Read more
The Patient Protection and Affordable Care Act (PPACA) is a law that contains comprehensive health insurance reforms. Through cost-sharing reductions and premium tax credits, the law aims to increase everyone’s access to affordable health coverage. Additionally, it offers rights and defense’s against unfair insurance company practices. Learn more about the Patient Protection and Affordable Care … Read more
A high-deductible health plan (HDHP) is a type of health insurance available in the United States that has higher deductibles and lower premiums than traditional health plan. The goal is to encourage consumer-driven healthcare. An HDHP can be a good option for people who are generally healthy and don’t require frequent medical care. Here are … Read more
What is Employees Health Benefits Program (FEHB)? Employees Health Benefits Program is the largest employer-sponsored group health insurance program in the world. This program is administered by the United States Office of Personnel Management (OPM). The program covers approximately 9 million people, including federal employees, retirees, former employees, annuities, employees and their family members, as … Read more