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...
Marriage changes many aspects of your life. One of these is the tax filing process. Your marriage can affect your filing's status, of course, and the deductions and credits you...
Most taxpayers will likely agree that the US tax code is complicated and difficult to understand. It is, therefore, evident that some common tax myths have arisen over the years. And...
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
Most families are not tax professionals. So when the time comes to hire a nanny, especially if it's your first time, knowing all the details and IRS requirements and your status...
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
Everyone wants to cut taxes, but sometimes people try too hard. Over the years, taxpayers have presented many foolish arguments to justify their tax incentives. We had put together...
Posted by Elliot Kravitz, ATP on 06/11/2020
One of the best ways to develop passive income is by investing in real estate. There are many benefits that a real estate professional enjoys. This also includes significant saving...