How to Allocate Cost Basis Between Land and Buildings in Real Property
For immigrants and investors, cost basis includes purchase price, mortgage assumed, and specific fees, divided by fair market…
Understanding Property Basis and Cost Basis for Tax Purposes
Understanding basis and cost basis is vital for U.S. property taxpayers including owners, immigrants, and investors. It details…
Comprehensive Guide to Reporting Other Gains, Income, and Taxable Events
Immigrants and U.S. residents must report all income types, including unemployment benefits and business property sales, using IRS…
Tax Treatment of Alimony Payments Before and After 2018 Changes
As of 2019, alimony payers cannot deduct payments on federal taxes, and recipients do not report alimony as…
Falsifying Tax Returns Risks Losing U.S. Citizenship Under Trump
Tax fraud can now cause loss of U.S. citizenship starting July 25, 2025. IRS-ICE data sharing enables immigration…
How to Report Additional Income and SALT Refunds on Schedule 1
For 2024, IRS revises Schedule 1 guidelines for reporting additional income and SALT refunds with a $10,000 cap.…
How to Qualify for Oman’s 10-Year Investor Residency Program
Oman's Investor Residency Program offers up to 10-year visas for investments of OMR 250,000+. Applications are online, processing…
Remittances to Central America Rise 20% Amid U.S. Deportation Fears
In 2025, remittances to Central America surged due to deportation fears and a possible U.S. tax. This increase…
Immigration Uncertainty Undermines Nebraska’s Families and Economy
ICE’s biggest Omaha raid since 2018 and shifting policies create uncertainty for 140,000 Nebraska immigrants, including 2,300 TPS…
Understanding Business Income, Losses, and Trade or Business Rules
IRS clarifies business income and loss rules for immigrants and entrepreneurs, highlighting four deduction limits and pass-through entity…
Essential Dos and Don’ts for Maintaining Your F-1 Student Visa Status
F-1 students must attend SEVP-approved schools, obtain and maintain valid I-20 Forms, pay SEVIS fees, and stay enrolled…
Comparative Analysis of Rental Income Taxation: U.S. IRS vs India Income Tax Act
US and Indian rental income tax systems differ significantly. India uses a 30% flat deduction; the U.S. allows…
Understanding Rental Income and Expense Reporting on Tax Returns
U.S. taxpayers must report rental income using Schedule E or C depending on services and personal use. Deductible…
Trump Immigration Crackdown Expands Role of IRS and HHS Agencies
Project 2025 launches a sharp immigration crackdown, expanding courts and detention, ending birthright citizenship for certain cases, suspending…