An abatement is simply a deduction/reduction or, in some cases, an exemption in the taxation level allocated to an individual or organization. Some examples of abatement include; a...
Posted by KLSM CPA Firm PLLC on 03/24/2022
An independent contractor is a business owner as well, like a sole proprietor.As a result, you get the liberty to structure your schedule and create a career path for yourself. While...
Posted by Tiffany Gaskin on 07/06/2021
What is Rental Income?Uncle Sam defines rental income as any payment you receive for using or occupying the property. Examples are rent payments, security deposits, advance rent, fees...
Posted by Tiffany Gaskin on 06/04/2021
Capital gains tax for U.S. citizens living abroad can be complex due to expatriate tax laws and regulations. Whether you are selling your home overseas or renting out a property, this...
Posted by James Financial Services Inc on 04/30/2021
Billions of dollars in property taxes go unpaid every year, a major problem for local municipalities that depend on this money to fund public services. Instead of waiting months or...
Posted by CORE PERFORMANCE on 04/29/2021
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
Energy tax credits for businesses are classified as a dollar to dollar deduction on a commercial organization's energy bills. It is usually done at the federal and state level....
Posted by KLSM CPA Firm PLLC on 03/05/2021
Using a section of your home for business makes you qualify for some deductions, which Uncle Sam calls the "business use of your home." As long as one meets all the requirements,...
Posted by Income Taxes and Bookkeeping LLC on 01/05/2021
If you are a homeowner, "basis" is a word you must understand. The basis is the value of your home (or other property) for tax purposes. When you sell your home, your profit...
Posted by BEST FINANCIAL GROUP LTD on 09/14/2020
