You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
Owning or managing property has many benefits that people overlook, such as the benefits of vacation rentals and tax deductions. While there are several expenses and rules to consider...
Many landlords pay more tax on their properties than they should. This is because they are ignorant of the several tax advantages and benefits of becoming a landlord. More than any...
Amnesty is an expression of forgiveness on the part of the federal government to its citizens. The choice is not to punish a business, an individual, or an entity for a crime. Under...
Investing in rental real estate can provide investors with a constant income stream that covers the mortgage and, at the same time, provides additional income each month; when these...
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Amnesty is an act of mercy on the part of the government. It is the decision not to punish a person, business, or entity for a crime. Under a tax amnesty program, a state provides...
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...