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How to Qualify for the Foreign Earned Income Exclusions in 2021

LyfeAccounting

JULY 9, 2021

This would be dividends, interest, capital gains, gambling winnings, alimony, social security benefits, pensions, and annuities. This one would be business profits, royalties, rents and scholarships, and fellowships. In addition to salary, you also receive a $12,000 allowance for the cost of living and education.

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income tax Tax Gambling tax return 52
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IRS Audit Red Flags & Triggers: How the IRS Catches You

LyfeAccounting

APRIL 8, 2021

Note that this post is for educational purposes and you should contact your attorney or legal professional for specific advice for your situation. Claiming Large Losses From Gambling. The IRS pays heavy attention to losses claimed from gambling. And, the IRS loves catching them. 8 IRS Audit Red Flags to Watch Out For.

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