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...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
Uncle Sam recently announced the 2021 tax rate in a bid to take care of inflation. The top tax rate will be at 37% for 2021 tax returns filed by taxpayers in the year 2022. However,...
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
Selling your property or other assets can be a lucrative endeavor. Sellers should be aware that there could be tax implications from the gains on the sale of these assets. Unifirst...
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....
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...
Software programs and friends with minimal tax law knowledge will constantly try to convince you that filing your taxes is easy and simple. If you work one job, don’t own...
Bonds are bought and sold in large quantities in the United States and around the world. Some stocks are easier to buy and sell than others, but that doesn't stop investors from...