For a lot of us, it makes sense to prepayment of mortgage. If there is enough cash, you can invest it in your home. No need to worry about monthly interest payments running into tens of thousands of dollars, and pay off your debt early. It seems very simple, right? However, to determine whether prepayment […]
Go green augurs well not only for the environment but for the business bottom line too as it cuts down on waste & conserves resources. A go green eco-friendly act need not be large to be impactful – for instance, have you imagined how much paper you will save if you always printed out […]
“Do not perform monetary transactions or anything sensitive on a public Wi-Fi network” – how often have we heard this advice? As they are not encrypted or password-protected, public Wi-Fi networks have significant vulnerabilities. Their open nature allows for snooping, machines on the networks could be completely compromised or malicious. For corporate employees, portable gadgets […]
If you donate your motor vehicle, boat, or airplane (vehicle donation) to a qualified charity & itemize deductions, you can generally claim a handsome charitable donation deduction on your federal tax return. The extent of deduction will depend in part on what the charity does with your vehicle donation. Here are a few examples that […]
FBAR is not part of a regular tax return sent to the IRS. Remember, FBAR does not cause a tax liability, but is for information reporting only. As a U.S. citizen, you may have to file an annual “Report of Foreign Bank and Financial Accounts” (FBAR) with the U.S. Treasury Department. Existence of such an […]
