US Tax
ABOVE-THE-LINE DEDUCTIONS (ADJUSTMENTS TO INCOME)
A Practical Guide to Reducing Adjusted Gross Income (AGI) Every taxpayer wants to legally reduce…
Understanding Tax Deductions in U.S. Federal Taxation
Suppose the government wants to encourage taxpayers to save for retirement, pursue higher education, or…
Understanding FICA and SECA
Introduction The Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA) are the…
Understanding US Federal Income Tax: A Case Study
Reading the Internal Revenue Code or a Form 1040 instruction booklet in the abstract can…
Understanding Deductions and Tax Credits in U.S. Taxation
Suppose the Government wants to provide you with a tax benefit. Should it reduce your…
Understanding Business Structures in the U.S.
Before we discuss tax forms such as Form 1065, Form 1120, or Form 1120S, we…
Importance of Residency Test in U.S. Taxation
One of the most critical concepts in U.S. taxation is tax residency, because it determines…
Understanding the Flow of U.S. Tax Calculation- From Income to Refund or Tax Due
Professor: When we hear the term ‘U.S. Taxation,’ many students imagine a highly complex system…
Fundamentals of U.S. Taxation: Concepts and Essential Tax Forms
When students first approach U.S. taxation, it often appears complex and layered. However, once the…