Tax Strategies for Homeowners
Be aware that important tax consequences are often associated with some fairly common events involving your home.
A Tax Nightmare on Your Horizon
A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and CashApp.
Consider Donating Appreciated Stock & Mutual Funds
One way to reduce your tax bill this year is to donate appreciated stock to a charity of your choice versus writing a check. This part of the tax code provides a tax benefit to you in two ways:
Having a New Baby? These Tax Tips are Essential
There are big moments in everyone’s life. A new birth is one of them. The irony is that most life events also have tax consequences attached to them.
The Lost Art of Tracking Home Improvements
Tracking Home Improvements – Your best defense to a potentially expensive tax surprise in your future is proper record retention.
Tax-Free Rental Income
There are a few income-producing events that the IRS has said are not taxable. One of them is renting out your home or vacation property.
2022 FICA Tax Rates
FICA tax is a combination of a Social Security tax and a Medicare tax. The Social Security tax is assessed on wages up to $147,000; the Medicare tax is assessed on all wages.
What is the Best Filing Status?
The best filing status for you depends upon which status you can qualify for and your particular circumstances. Tax savings are only one consideration when selecting your filing status.
1099-K – Understanding Your Special K’s
The IRS is reporting that it will be comparing filed 1099-Ks against income reported on business tax returns
10 Tax Tips for Individuals
Only the informed taxpayer can take advantage of tax-cutting opportunities. Here are suggestions you should consider for cutting your taxes.