The home sale gain exclusion is one of the biggest federal income tax breaks around. However, the gain exclusion may not be big enough to shelter all of your gain from tax if you sell a highly appreciated home. Strategy: Follow a two-step approach.
Small Business Tax
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
Q. My wife, who never worked, reached full retirement age for Social Security last month. I will reach it in November, but won’t retire for a few years. Should I wait to apply for benefits?
The IRS is warning taxpayers about an emerging scam. Under the scheme, promoters claim they can obtain a tax refund or nonexistent stimulus payment based on the American Opportunity Tax Credit (AOTC), even if the victim went to school decades ago.
Q. How can money taken out of a payroll check for Social Security benefits be a payroll tax reduction? Doesn’t this reduce the funds for my Social Security benefit plan?