Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
One of the things that occupies most of a businessman’s time when it is time to file taxes is how much legitimate tax deductions they can make. Next to saving you some extra...
Opening up the business of your choice is not a walk in the park. It is not enough that you have the necessary capital to invest in the type of shop or store that you have been planning...
Filing your taxes correctly and responsibly is important. Small mistakes or oversights can result in large consequences, both legally and financially. The reasons to hire...
Posted by Taxes Made EZ Inc on 11/30/2020
Many people struggle to find the funds they need to build up their retirement savings. Fortunately, a non-refundable tax credit, called a retirement savings contribution credit, can...
Depreciation is negative. It is like something losing value. In the tax world, however, depreciation can translate to considerable tax savings. Depreciation means deducting the...
If you want to enjoy deductions on federal tax bills, mortgage point deduction is a terrific way to claim it. At times, it is sometimes called discount points or origination points;...
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...