The Crypto Law that can turn ordinary investors into felons
The following info is for those who hit more than $10,000 in Crypto and other digital asset transactions in 2022. The IRS is coming after
What’s A Wash Sale?
You can dump an underperforming asset and get a tax break for it. But make sure to follow the rules that govern a Wash Sale.
How To Defer Taxes With An Installment Sale?
An Installment Sale as the name suggests is a sale of property where the sale price is paid in installments and at least one payment
How Does An Incomplete Contract of Sale Help With Tax Savings?
A dealer is allowed to defer his/her tax obligations if the contract for sale is incomplete. Please note that just because a contract for the
What Is the Difference between Life Insurance And An Annuity?
Did You Know That Life Insurance Proceeds Are Generally Considered As Non-Taxable Income? Annuities provide an income stream during your lifetime so that you won’t
What the IRS’s $80 billion in funding means for your taxes
Nearly $46 billion of the IRS’s extra funding for the next 10 years is earmarked for enforcement or investigating and auditing returns to collect unpaid tax
Did You Know That You Can Deduct Interest On A HELOC Of Up To A $100,000?
Preview: Increase Cash Flows With A HELOC And Do Not Forget To Take The Interest Deduction On It! With a HELOC or also known as
We Made $460k In Gain From Sale Of Our Main Home. How Much Tax Do We Owe?
You can avoid paying capital gains taxes when you sell your primary home. Though there are certain rules that need to be met: It’s a
I Bought An Oven For My Pizza Restaurant. Can I Use The Sec 179 Deduction To Maximize My Tax Incentives?
The Sec 179 depreciation is a tax incentive given by the IRS to encourage businesses to invest in themselves by purchasing new equipment. The Section