What Is The Employee Retention Tax Credit (ERTC)? Does My Business Qualify For It?
This credit is applicable for businesses who had full time employees and paid payroll taxes during TYs 2020 and 2021. The credit is also for
EV Credit Expanded For New Clean Vehicles Purchased in 2023 or After
Who Qualifies? You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV
I Made A Loss At The Time Of Selling My Rental Property. Does That Help With My Taxes? If Yes, How?
The truth is that losses on rental properties are ordinary losses, not capital losses. Because the loss on the sale of the rental properties is
Many Business Owners And Individuals Lose Out Money In Taxes Simply Because They Are Not Aware Of The Sec 1031 Exchange
Benefit: You get to pay nothing in taxes on a resulting gain, if the property exchange qualifies under Sec 1031. Rule # 1: Only business
What Are The Tax Implications If I Change My Home To A Rental Property?
If an owner changes their home (or a part of it) to rental use at any time other than at the beginning of the tax
We Are Married But File Separate, Are we Eligible for the Primary Sale Exclusion?
What is a main home? Your main home is the home in which an individual lives most of the time and can be a house,
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