Homes in the US are selling faster than they have in 20 years, with the average time to find a buyer being just one week! But buying a home comes with many financial responsibilities. Some you’ll pay upfront, like your down payment and closing costs. Other’s you’ll pay over time, like your mortgage and property tax. And some…
Category: Taxes
Understanding Solar Tax Credit in 2022
The Solar Tax Credit 2022 is a valuable incentive that can help reduce the cost of solar energy systems. According to the Solar Energy Industries Association, solar has seen 42% annual solar growth as a result of the Solar Investment Tax Credit (ITC). To qualify for the solar tax credit, certain requirements must be met. In this…
A Complete Guide to Freelancer Tax Deductions for 2022
Did you know that freelancers can take a lot of tax deductions? In 2022, there are several freelancer tax deductions you can claim to reduce your taxable income. The thing is, there are many deductions you may be eligible for, but not everyone is familiar with them all. As a freelancer, you are responsible for…
SEP IRA: A Comprehensive Guide
Are you a small business owner or self employed? Do you know what is a SEP IRA and how you can use this for retirement planning? You are at the right place. In this article, We will be discussing all the important questions pertaining to SEP IRAs and how to set up a SEP IRA…
3 Most Common Types of Bankruptcies
Are you an individual or a small business owner who is looking to learn common types of bankruptcies. In this article we will provide you 3 most common types of bankruptcies and how each one is different and which is best for you. Bankruptcy is a legal process that helps people, companies, and other entities…
Tax Loopholes for the Rich: The Ultimate Guide
According to Section 7201 of the Internal Revenue Code, it is illegal to evade paying annual taxes in the United States. Failing to declare and pay your taxes can result in a felony charge and a fine of up to $500,000. You may also face a prison sentence of up to 5 years. Tax Loopholes for…
Living Trust: An In-Depth Guide
Nearly 60% of Americans haven’t made arrangements should the unthinkable occur. Yet, a growing number of people have become interested in estate planning since the start of the pandemic. With the current state of your affairs, what would happen to your estate if something happened to you? Fortunately, you can decide. Keep reading Our “Living…
Top Cryptocurrency Tax Tips
It seems like everyone’s getting into digital assets these days. From cryptocurrencies like Bitcoin and Ethereum, to NFTs (non-fungible tokens) and blockchain software, we’re in the midst of a digital gold rush. And part of the attraction was how decentralized it promised to be—free of banking oversight, government control, and government taxing authority. At least that’s how…
How to File a Tax Extension: What You Need to Know
If there’s anything Americans are known for, it’s for their love of baseball and taxes. Believe it or not, Americans love paying taxes so much that over 125 million of them paid extra and had to get a refund last year! All jokes aside, filing taxes on time is very important, but not all of us are…
Is Social Security Taxable? (Best Guide)
Are you worried about having to pay federal income tax on your Social Security benefits? Even though you pay into Social Security your whole life, the truth is, many Americans still have to pay taxes on that income once they retire. But worry not; we’re here to help walk you through every question related to…
