Completing Form W9 If you receive a Form W9 you may be wondering why you got it and what to do with it. If you feel overwhelmed by tax forms, this article can help you. We will go over the purpose of a Form W9 and a step-by-step process of how to fill it out. [...]
Tax Changes for 2018 The passing of the new tax law has many people worried as tax season quickly approaches. You can rest assured, these changes will not show on this year’s tax returns, they will affect your taxes you file in 2019. However, you should be aware of the 2018 tax changes since [...]
Capital Gains Tax - What Is It? When you sell an asset for a profit, the difference between what you buy it for and what you sell it for is a capital gain. You earn this type of gain on such property as homes, stocks, bonds, and collectibles such as art. Capital gains from [...]
1031 Exchange If you are a real estate investor or own any type of real estate that produces income for you, you should be familiar with a 1031 exchange. This exchange allows you to defer capital gains if you sell your investment property and use the money to purchase a new investment property. These [...]
Taxation of Your Side Job The opportunities to make money on the side seem endless. You may use an app like Uber, Lyft or Airbnb or you run your own business on the side. Whatever you do, it is important that you understand the taxation of your side job. Not preparing and having a [...]
Investment Taxation As you get ready to file your taxes, you may be wondering about investment taxation. In this article, we will go over the basics of how your investments are taxes so you can prepare to file your taxes. Different Types of Income One of the factors that determine your taxation is the [...]
Preparing for Retirement There is so much you must prepare for as you near retirement. You need to make sure you have enough saved in various retirement accounts, figure out the best time for you to file for social security, decide where you want to live, learn about Medicare and your different health insurance [...]
Tax Deductions for the Self-Employed Taking care of the day to day operations of your own business is complicated enough. Taxes can add a whole other level of stress to running your business. This article will go over different tax deductions and benefits that are available to you. Self-Employment Tax Deduction Self-Employment tax [...]
Understanding Education Tax Credits (Form 8863) Education is one of the biggest expenses that parents and students will face. Thankfully, there are two education tax credits that can be used to help offset the cost. These tax credits are the American Opportunity Credit and The Lifetime Learning Credit The American Opportunity Credit The [...]
Tax Tips Have you been putting off filing your taxes, dreading how much you are going to owe? Don’t stress too much, there are still a few tax deductions that you can make if you act before April 18. We will go through what they are and what you need to do to take them. [...]
