Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
Owning or managing property has many benefits that people overlook, such as the benefits of vacation rentals and tax deductions. While there are several expenses and rules to consider...
A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...
Many landlords pay more tax on their properties than they should. This is because they are ignorant of the several tax advantages and benefits of becoming a landlord. More than any...
Investing in rental real estate can provide investors with a constant income stream that covers the mortgage and, at the same time, provides additional income each month; when these...
Unknown to many people, the proceeds from selling a house might be taxable. However, this article sheds light on the mode of operation and simple ways to avoid ending up with a huge...
In 2017, the wealth tax cap was $5.49 million. In 2018, the limit doubled to $11.18 million and now stands at $11.7 million. Currently, this growth will expire in 2025, but with the...
We have seen that the stock market has hit several new highs in recent months. This is in addition to the fantastic bull market that ran for more than ten years before the rapid coronavirus...