FAQ

What items are exempt from sales tax in california

What items are taxable in California? Retail sales of tangible items in California are generally subject to sales tax. Examples include furniture, giftware, toys, antiques and clothing. Some labor service and associated costs are subject to sales tax if they are involved in the creation or manufacturing of new personal property. What items are not taxed in California? Sales of…

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FAQ

Georgia intangible tax

What is intangible tax on mortgage? The “intangible tax” is a nonrecurring tax on intangible personal property levied on obligations for payment of money which are secured by a mortgage or other liens upon real property located in the state of Florida. §199.133, Fla. Who pays the transfer tax in Georgia? The seller is liable for the real estate transfer…

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FAQ

What is a foreign tax return

Where to put foreign income on 1040? Generally, you report your foreign income where you normally report your U.S. income on your tax return. Earned income (wages) is reported on line 7 of Form 1040; interest and dividend income is reported on Schedule B; income from rental properties is reported on Schedule E, etc. When can you claim a foreign…

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