As long as you repay such a loan fully, there is no need for income taxes on a personal loan. However, the forgiveness of any part of the loan or paying the loan for a lesser amount...
Posted by Karen Munoz, EA on 06/06/2021
Would you allow tax laws to influence your decision to marry your partner? Many of us may not consider this, but some spouses consider the tax implications.Over the years, much has...
Posted by Flynn Financial Group Inc on 06/05/2021
According to the Christian faith, Jesus responded to a question when asked if it was right to pay taxes by saying, "Give to Caesar what belongs to Caesar, and God what belongs...
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...
In appreciation for military men's services, Uncle Sam offers a series of tax breaks for veterans with disabilities. This article sheds light on each alongside how one might qualify...
Tax exemption is the right to exclude from tax certain amounts of income or assets.Being tax-exempt or having a tax exemption seems like a way to lower your tax bill, but it can cause...
A reverse mortgage is a means of generating income when you employ the equity in your home. This loan provides an excellent way for seniors to get money if finances are not working...
The nation owes a debt of gratitude to veterans, yet sometimes these heroes come back home and pay huge taxes, which places a significant burden on them. This realization led to a...
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...