The lottery and taxes go together like peanut butter & jelly, although it does not taste nearly as good. In 2018, when the lottery was up in the billions – that’s right, billions with a “B”, there was much discussion about the amount of tax that would be owed from the winner would owe. Sandra …
Lottery and Taxes | What You Need to Know about Your Winnings Read More »
It’s never pleasant to think about the death of a loved one, but if there is the possibility that you will receive an inheritance, you may have to pay taxes on it. Of course, the last thing you want to think about when going through a loss is the tax consequences of an inheritance, but …
By now, you’ve heard of Uber and/or Lyft. They are called “rideshare” jobs, simply because you are sharing your ride with someone by giving them a lift from one location to another. This article will touch on the basics of ridesharing in general as well as rideshare and taxes. We’ll also cover how to join …
Being a homeowner can be beneficial. You are allowed to deduct certain housing expenses that can lower your tax bill. As a taxpayer, it’s important to keep your tax bill as low as possible as it may keep you from having unexpected tax debt. Luckily, homeowners have a number of tax breaks that they can …
Claiming Dependents Claiming dependents can be very beneficial. The government realizes that having dependents costs you money, and they have worked to ensure that you receive the best benefits, including credits, deductions, and other benefits. In this article, we will look at what qualifies a dependent and all of the benefits you can receive for …
If you are looking for the right way to find a great tax consultant or tax preparer, then keep reading. This article is full of valuable information, so you may want to take notes or bookmark it. In this article, we will take a look at the definition of the different types of tax professionals, …
What you use as your tax filing status is very important as it impacts the type of return you will be using when filing your tax return. It also determines what tax rate you will need to use. For example, if you file as head of household status, you will use the head of household …
If you are starting a new business, you are probably facing a lot of business start-up costs. This can be very confusing when it comes to taxes. What can you deduct in year one, and how do you make deductions in the following years? It’s an overwhelming situation. Luckily, the government allows you to deduct …
Business Startup Costs & Taxes: What and How to Make Deductions Read More »
Are you having trouble keeping your business afloat? If you are like so many people today who need a little extra money, you’re in luck because this article is full of money-making opportunities. This article will give you ideas on how to make money from home. We will also go over the tax implications of …
Did you know that over 50 million Americans are freelancing today? According to Dave Ramsey, freelancers are expected to make up the majority of the United States workforce within the next decade. So, whether you want to give freelancing a try or not, it’s worth understanding how it works. While the thought of having to …
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