Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
The only things certain in life are death and taxes. While taxes are certain in life, many investors do not consider them when making their retirement portfolios plan. If you do not...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...
If you buy an annuity in pre-tax dollars, the annuity payments will be fully taxed as income. If you purchase an annuity with after-tax funds, you only have to pay income tax. Annuities...
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
With an April 15 tax deadline just around the corner, getting here sooner than we all want or expect it to, last minute filers and even those individuals and businesses who begin to...
Posted by Carmen Garcia on 12/21/2020
Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...