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...
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...
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
Also known as REIT, a real estate investment trust is known as a mutual fund for real estate. From the name, one can infer that the trust invests in investments related to real estate....