Taxes
Latest in Taxes
Tax Exclusion Rules for Service-Connected Military and Government Pensions
Learn when military and government disability pensions are tax-free federally, who qualifies, and required proof. Key points: 1975 protections, service-connected…
Depreciation Recapture Reduces Section 121 Exclusion on Home Sale
In 2025, Section 121 permits exclusion of up to $250,000 ($500,000 married) if you owned and lived in the property…
Section 121 Home Sale Exclusion: Ownership, Use, and Limits Explained
Section 121 lets sellers exclude up to $250,000 (single) or $500,000 (joint) of gain on a main home if they…
QPRI Exclusion Continues Through 2025; $750K/$375K Limits Apply
QPRI permits excluding forgiven mortgage debt used to buy, build, or substantially improve your principal residence for discharges after 2006…
Comprehensive List of Income Exclusions and Tax-Free Items Explained
Immigrants filing U.S. taxes can reduce taxable income using exclusions: tax-exempt municipal bond interest, up to $250,000/$500,000 home sale gain…
U.S. Imposes 25% India-Specific Tariff, Effective Aug 27, 2025
The U.S. announced August 2025 tariffs adding a 25% India duty plus a 10% baseline, with +50% metals and +25%…
Congress Advances Infertility Tax Credit as U.S. Birth Rate Falls
A bipartisan bill would create a tax credit covering up to 50% of infertility treatment costs, capped at $15,000 and…
India’s New Income Tax Bill 2025: Slabs, NRI Benefits, Effective 2026
India’s New Income Tax Bill, 2025 overhauls the tax code: new slabs effective FY 2025-26, ₹12 lakh tax-free threshold, ₹75,000…