It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
One might desire to purchase a new house, and with money available, paying in cash might seem like the best option. While this appears promising, it is not always easy to decide the...
When starting a business, one of the first decisions you'll face is what type of business to register for. The type of business you choose will affect your taxes, obligations,...
IRS Form 8949 is a tax form used primarily to report sales and trade of capital goods. Form 8949 is filed alongside Schedule D of the income tax form.What is IRS Form 8949?Form 8949...
One of the primary reasons people buy annuities is the favorable tax treatment. However, even if annuity comes with tax benefits, it does not rule out the drawbacks. As a result, one...
If a creditor acquires your property through foreclosure and evicts you, or if you surrender your property before the eviction, the lender will send you an IRS Form 1099-A Acquisition...
Your taxes this year may be dominated by a clear question: "At any point in 2020, did you sell, receive, send, trade, or earned financial interest in any virtual currency?"In...
An Insight into Personal Use propertyUncle Sam defines personal use property as an asset or property used solely for private purposes and does not serve as an investment or business...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....