Introduction to Gross Income Concept | Tax Cuts and Jobs Act 2017 | CPA Exam Regulation

Section 61(a) of the Internal Revenue Code defines the term gross income as follows: Except as otherwise provided in this subtitle, gross income means all income from whatever source derived. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountinglectures LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected]

Filing requirements | Tax Cuts and Jobs Act of 2017 | Individual Income Tax Course | CPA Exam Reg

Generally, an individual must file a tax return if gross income equals or exceeds the applicable standard deduction. A married taxpayer filing a separate return is required to file a return if he or she reports any amount of gross income. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountinglectures LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected]

Child Tax Credit | Dependent tax Credit| Tax Cuts and Jobs Act of 2017 | Income Tax Course CPA Exam

The child tax credit and the dependent tax credit are provided to individual taxpayers based on the number of their qualifying children and dependents. A $2,000 tax credit is allowed for each qualifying child. In addition, a $500 tax credit is allowed for each dependent of the taxpayer. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountinglectures LinkedIn: […]