Tax benefits of owning a home. Article Highlights Historically Low Interest Rates.Purchase Costs.Points.Mortgage Payments.Refinancing.Property Taxes.Inflation.Gain Exclusion.Renting Versus Owning.Worksheet to Analyze Costs. Housing is a big expense for everyone. The choice generally … [Read more...] about What are the tax advantages of owning a home?
PPP Loans – Second Round of Congress
Congress Has Authorized a Second Round of PPP Loans. Article Highlights: Paycheck Protection Program.Eligible Entities.Loan Terms.Loan Forgiveness.Forgiveness Reduction.Simplified Loan Forgiveness.Deductibility of Expenses.Funds Availability. Congress passed, and President Trump … [Read more...] about PPP Loans – Second Round of Congress
Difference Between Employee and Independent Contractor
The Difference Between Employee and Independent Contractor Filing annual wage reports is just one of the many end-of-year responsibilities expected of every business. But the task is not as straightforward as some would think. The reports get sent to the people who have received wages, … [Read more...] about Difference Between Employee and Independent Contractor
What Does a Tax Deduction Save You?
What Does a Tax Deduction Save You? Article Highlights: Non-business deductions.AMT.Tax bracket.Above-the-line deductions.Business deductions. Taxpayers frequently ask what benefit is derived from a tax deduction. Unfortunately, there is no straightforward answer.The reason the benefit … [Read more...] about What Does a Tax Deduction Save You?
IRS Tax Problems: Most Common Types
Most Common Types of IRS Tax Problems Receiving notification from the Internal Revenue Service (IRS) that there’s some kind of problem is one of the most bone-chilling situations an American taxpayer can experience. Just receiving an envelope with a return address from the IRS contribution can … [Read more...] about IRS Tax Problems: Most Common Types