You can consider the basic idea of capital gains very simple: the net profit will be known as a capital gain if you sell an asset for more than you paid for it. For example, you get...
Qualifying as a real estate professional is not easy. On the bright side, if you qualify as a professional real estate, you are entitled to an income tax treatment that can benefit...
You've buckled down for quite a long time, and now you need to make the most of your golden years. In case you want to have a pleasant way of life in retirement, you are likely...
Posted by Elliot Kravitz, ATP on 10/23/2019
Even after your retirement, whether it's likely to happen soon or several years from now, you may end up paying the IRS a substantial amount of tax. And what's more, those...
As you are probably aware, the large proportion of your income is taxable. Whether earned through a salary, hourly wages, tips, commissions, rent from a property that you lease or...
Posted by Elliot Kravitz, ATP on 07/25/2019
Is it conceivable to achieve a reduction in your property taxes without moving to another house? Discover a few hints and traps for bringing down your tax bill. Peradventure you...
If you are a foreigner (not a US citizen), you are considered a non-resident alien if you do not pass one of the two exams. You are a foreign resident of the United States for tax...
Posted by Global Accounting on 04/09/2019
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, you may have questions about how rental income is taxed for a...
Posted by KAB Bookkeeping and Tax Service on 02/11/2019
This section may be of the most radical change of previous year tax reform bill and something you cannot underestimate. A lot of Tax Preparer and Accountant referred to it as the best...
Posted by HENRY OSEGO TAX SERVICE on 01/27/2019