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…
Category: Taxes
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…
What Are the Best Tax Benefits of Homeownership?
Owning a home is costly. Along with mortgage and utility bills, homeowners pay over $13,000 a year on average for extra expenses like maintenance, property taxes, and insurance. Fortunately, there are many tax benefits of homeownership to help offset those costs. Homeowner tax credits and tax deductions can potentially save you thousands on your tax return….
Gift Taxes: What Are They and How Do They Work?
In 2020, the IRS collected $17.6 billion in estate and gift taxes. It’s important to pay appropriate taxes if you want to avoid fees and penalties from the IRS. Yet, how do you know whether something you’ve gifted requires a gift tax payment? Keep reading to learn more about gift taxes and how they work. What…
Jeep Grand Cherokee Tax Write Off 2021-2022(Best Tips)
Jeep Grand Cherokee is known for its unique style and reliability. People who love Jeep Grand Cherokee are die hard fans and wouldn’t replace this vehicle with any other vehicle. Some buy it as its their love of this vehicle & passion and many Small Business Owners buy it because they use this vehicle for…
Toyota 4 Runner Tax Write Off 2021-2022(Best Tips)
Toyota 4 Runner is known for its unique style and reliability. People who love Toyota 4 Runner are die hard fans and wouldn’t replace this vehicle with any other vehicle. Some buy it as its their love of this vehicle & passion and many buy it because they can not only use this vehicle for…