Paying more than you ought to the IRS, is something every individual or business owner will try to avoid, and while everyone must pay their taxes, understanding some common tax exemptions and deductions, can help minimize the total and ensure that the end amount is accurate. What are tax exemptions? A tax exemption is money that you’ve lawfully earned, but which you don’t have to pay taxes on, and they… Read More
Archives for July 2017
Tax Tips For Non U.S. Residents and Foreigners
Whether you’re a non U.S. resident or a foreigner living in America, you still need to pay your taxes irrespective of your alien status. The IRS has two tests that it uses to determine your alien status, and they’re called the ‘green card’ test, and the ‘substantial presence’ test. If you meet the requirements of either test, you’ll be registered as a resident alien for income taxes, but if you… Read More