Becoming self-employed gives you the freedom to choose your path to work. But your aspirations can get out of hand if you don't keep your books in order. At tax time, missing receipts...
Posted by The TaxAdvocate Group, LLC on 05/06/2021
If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
Posted by Elliot Kravitz, ATP on 04/29/2021
It is more common than you might think for someone to live in one state and work in another. You might need to file a non-resident income tax return if you earned money in a state...
Posted by The TaxAdvocate Group, LLC on 04/29/2021
Usually, people work harder and save enough money to acquire a home of their choice. However, many cannot keep up with the financial demands due to some unplanned events or circumstances....
Posted by Raven Skylar Tax & Consulting, LLC on 04/27/2021
In general, home improvements are not tax-deductible, but there are three main exceptions: capital improvements, energy efficiency improvements, and health-related improvements.If...
Posted by Abundant Wealth Planning LLC on 04/27/2021
There are many options you can take if your property evaluation caught you by surprise. You do not have to accept the assessment and pay. With determination and some research, you...
Posted by Thomas G Kinsella, ATP on 04/26/2021
When someone brings up the subject of homeownership, they have to think about several expenses. Of course, the mortgage payment is one of the first things that comes to mind, but there...
One of the issues that real estate investors have to deal with is taxes. There are various taxes with different implications on asset performance. It is not surprising that people...
Posted by Thomas G Kinsella, ATP on 03/30/2021
A step-up in basis can help you save a lot of money at the time of taxation. The term refers to income tax and capital gains and can save you a lot of money if you decide to sell an...
Posted by Daniel P Vigilante CPA and Profit Consultants on 03/28/2021
