Also known as EITC or EIC, the Earned Income tax Credit is a refundable credit, meaning that if you owe no tax and you qualify, you will get the value of the credit. The idea is to...
Posted by Karen Munoz, EA on 09/03/2021
To be exempt from tax as a social welfare organization described in Section 501(c)(4) of the Internal Revenue Code (IRC), an organization must not be organized for profit. It must...
Posted by Elliot Kravitz, ATP on 05/30/2021
If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
Giving out a on rent room is another way to earn extra money. Many people now rent out an apartment or a room either for an office or for other functions. If you want to rent out...
You might have a home where you stay for some time in a year while you rent it for the other part of the year. Doing this means you have to prorate the incurred expenses between rental...
Most students have limited experience with credit cards and other forms of credit. As a result, their credit history is generally weak or nonexistent. Therefore, the most crucial reason...
1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...
It is improbable that either of the party will have time to think about the insurance issues there will be when there is a dissolution of their marriage with all the raw emotions and...
Posted by LLOYD J CAZES CPA on 07/16/2020
REIT or Real Estate Investment Trust is a hands-off opportunity to get property. You can decide if it is a good investment idea for retirement by understanding how it works What...
Posted by Advanced Accounting & Tax Planning on 06/10/2020