Flex Tax and Consulting Group (FTCG)
This article was authored working with wikiHow, the world’s largest “how to” site, and also featured here on the wikiHow website. Before you can improve your financial health, you need to analyze your current finances. Keep track of your expenses for a month and look at where you are spending the most. Use extra money to […]
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Internal Revenue Code § 121 provides taxpayers with an income tax exclusion from the gain of taxpayer selling a primary residence. The exclusion amount for a single up to $250,000 and married couples will raise to $500,000. To qualify for the exclusion, the taxpayer-owned and used the property as the taxpayer’s principal residence for periods
Nonresident Aliens and The Section 121 Principal Resident Exclusion Read More »
Since the CARES Act passed, there has been a lot of talk about getting funding to businesses to help the economy. Businesses received some relief through Payroll Protection Program loans, Economic Injury Disaster Loans (EIDL),-Employee Retention Credits and an increase in the allowable business interest deduction limit, to name a few. But what about the
Marrying or Married to a Non-Resident Alien? Filing Status Information The IRS defers stating or foreign law to determine whether you have a valid marriage. In most cases, a marriage in a foreign country is valid for U.S. tax purposes. “Can I File Single if Married to Non-Resident Alien?” Generally, no, you can’t file single
Filing Taxes When Marrying a Non-U.S. Citizen Read More »
