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 […]
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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
Real Estate & Taxes | A Beginner’s How-To Guide Read More »
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,
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Itemized deductions and the standard deduction reduce the amount of income on which you must pay taxes. Which is worth more, though? Taking itemized deductions can be quite a bit of work when filing your tax return, especially when doing this on your own, for the first time. Unfortunately, you can only take one; you
Itemized Deductions | Your Best How-To Guide Read More »
If you are self-employed, you will probably need to file a tax return, pay self-employment and income tax on your annual tax return, and possibly even pay quarterly estimated taxes throughout the year. Paying taxes as a self-employed individual can get complicated, especially if you plan to take many deductions on your tax return. This
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If you are wondering whether you need to make estimated tax payments, chances are you should, but this article will help you figure out if you need to – if you are unsure. We will cover who needs to pay estimated quarterly tax payments, how much you need to pay – if you need to
How to Make Estimated Tax Payments | 2020 Complete Guide Read More »
It’s important to understand what capital assets are, how to calculate capital gains and losses, and what this means for your taxes. Short-term capital gains and long-term capital gains are treated differently. The government encourages taxpayers to have long-term investments so if you own your capital assets for over a year, the tax rate only
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