Everything You SHOULD'VE Been Taught in School.
Real estate is a great investment, and selling your home could net you a hefty profit. However, that large profit can mean a big tax bill, which can reduce the amount you get to pocket from the sale. It may also dampen your plans to move to a new location.
Fortunately, there are critical moves you can do to reduce the taxes you owe when you sell your primary residence.
[Read more…] about How To Sell Your Primary Residence And Not Pay Taxes On The Profit
Did your parents and teachers forget to teach you how to save money on your taxes? My teachers definitely forgot, but thankfully I was raised by a lawyer (mom) and a Certified Public Accountant (dad), so that was helpful.
I am also one of those rare people who loves listening to books and podcasts about taxes and reading the dreaded IRA tax code (*gasp*). [Read more…] about How to Save Money on Taxes This April (7 Savvy Tips)
The American tax system is complex. It’s also ineffective: our tax rates are high, yet our budget deficit is even higher. Add to that the failing state of many school systems, infrastructure, and health care accessibility in our country, and the whole question becomes even messier.
Also, how and why has the American tax code grown to 74,608-pages long? Even Certified Public Accountants can’t stay up-to-date with the ever-growing code requirements.
So what gives? What is wrong with the American tax system and how does it disproportionately tax the middle class? [Read more…] about What is Wrong With the American Tax System for the Middle Class?
Did you know that the average American pays around $5,000 in taxes every year? While the exact amount depends on income and various other factors, it’s important to do what you can to save money.
Self-employment taxes can be especially complicated. If you don’t know exactly what you’re doing, then you could end up losing a lot of your hard-earned cash.
Are you trying to better understand the IRS regulations in this area? Keep reading to learn tactical tips for how to file your freelance taxes. [Read more…] about How to File Your Freelance Taxes
Are you trying to find concrete tax deduction examples? Do taxes make your head spin? You’re not alone in your confusion. Research shows that a staggering 52% of Americans find the tax-filing process frustrating and stressful.
As the adage goes, death and taxes are the only two certainties in this life. While most of us know the strategies associated with prolonging our lives (eating well, building sustainable friendships, moving our bodies regularly), many people flounder when it comes to managing their taxes. [Read more…] about Top 6 Tax Deduction Examples You Probably Didn’t Know About