Best case scenario you’ll be house-poor. By that, I mean that so much of your income will be going towards your house payment or rent that you can’t afford much else. Or (even worse) you begin to live off credit cards to offset you much you’re overspending. Knowing the “how m...
factor those into your annual tax calculations. You might have to re-do your tax bracket numbers based on whether or not you fall into a new tax bracket. Therefore, you should use both a paycheck calculator and a tax calculator to determine how much you owe in taxes, and what your...
As I stated, there is much more that goes into putting a Lease Option transaction together, but that is basically how it works. There are several positives and negatives to this type of transaction. Let’s take a minute to look at a few. First, let’s look at the positive. What You ...
Debt is a big factor, as is a sense of entitlement after years in training and many long hours at work.But a major factor is the expectation in your own mind (and the mind of family and neighbors) that you need to live like a doctor.In short, you spend too much. Quit it. Like ...
Backdoor Roth or a “clean” Backdoor Roth — you’re doing it deliberately. Don’t wait until the following year to contribute for the previous year. Contribute for 2024 in 2024 and convert it in 2024. Contribute for 2025 in 2025 and convert it in 2025. This way everything is clean ...
The Deductor is no longer required to submit physical copy of Form 15G & Form 15H to the Tax Department. However, these forms must be maintained by the Deductor for a period of 7 years from the end of the financial year in which these are received ...
have to pay higher taxes in such case. However, Income Tax Act provides you relief in those situations u/s 89(1). This is simply based on the principal that you should be liable to pay the taxes on your income based on the tax rates applicable for the year to which the income ...
No, this isn’t about who is running the business! This is a quick and precise snapshot of your business plan as a whole. You want to fit in as much information as you can without bloating this piece. You are clearly explaining the concept behind your business, your goals (both short...
in the central and western regions. However, on the whole, Guangdong, Zhejiang, Jiangsu, Shandong and Fujian provinces will still dominate China's garment production for a long time in the future. In the short term, the production pattern of the garment industry will not change much. ...
If you had already bought a second house within a year before selling the first one, you could still avail of the tax exemption, You can also utiliseSection 54Fto avail of exemption on the long term capital gain made from the sale of land (actually it is any asset other than a house)...