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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(rental property) at any time other than at the beginning of the
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?
In the intricate landscape of taxation, understanding the nuances of an incomplete contract of sale can be the key to unlocking substantial tax savings. Let’s
What is the Difference between Life Insurance and Annuity?
Did You Know That Life Insurance Proceeds Are Generally Considered As Non-Taxable Income? 1) Annuities provide an income stream during your lifetime so that you
What 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
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
The Beauty of Cost Segregation
Its uniqueness comes from the fact that you don’t have to pay for all of the building. The bank will pay for 80% of it.