The IRS defines another type of rental property as short-term or a vacation rental if rented for less than two weeks within a calendar year. A vacation home is considered a rental if it is rented out at any time during the course of the year. For most vacation homeowners, time ...
Non-cash income:Taxable income may be in a form other than cash. One example of this is bartering, which is an exchange of property or services. The fair market value of goods and services exchanged is fully taxable and must be included as income on Form 1040 of both parties. ...
The IRS uses an unusual word that most of us don’t know the meaning of: inure or inurement. Here’s how the IRS uses it in their definition of a 501(c)(3) tax exempt organization: A section 501(c)(3) organization must not be organized or operated for the benefit of private inte...
Going by China’s definition, it’s not a stretch. Actually, Obama already uses those letters to intimidate political opponents. Using China’s definition of what terrorism is would make it more fun (from his perspective) and easier to do. Link: China approves wide-ranging counter terrorism ...