Tag: tax advice

Tax tips for Investors

Tax tips for Investors

Don’t ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Some things to consider: 1. Capital gains carry a special favored tax status. The tax rates on long-term capital gains are lower than the rates on ordinary income…

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How to Defend Your Deductions

How to Defend Your Deductions

When faced with questions on your tax return deductions, it is getting all too common for tax authorities to deny everything and then make you prove that your deductions are valid. Do not let this happen to you. Here are some suggestions. The one-two punch To prove your deduction most auditors are looking for two key documents. Miss one of…

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Tax strategies for homeowners

Tax strategies for homeowners

Be aware that important tax consequences are often associated with some fairly common events involving your home. Here are some handy things to know. Home purchase. When purchasing a home, you may pay a portion of the mortgage interest in advance. This loan origination fee, or “points,” is a percentage of the total amount borrowed. If points are paid for…

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