Trust funds are an essential estate planning tool that helps to smooth over the transition of assets in a manner that benefits the beneficiaries of the fund, yet they can be quite confusing financial entities, especially when it comes to taxation. Created by a grantor, maintained by a trustee, and payable to potentially multiple beneficiaries,…
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Where To Mail Federal Tax Returns
When you are filing your tax returns, you will feel like every single part of the process is complicated. Sadly, finding the where to post said tax return is also a complicated affair. Today, we will endeavor to make it easier for you. You will be able to tell where you need to post your…
Are Moving Expenses Tax Deductible?
Moving home can be a really stressful time, and if you’re starting from scratch it can be a fairly expensive time too. So it’s understandable that you’re looking into seeing whether or not you can deduct the tax from your moving expenses. However, as much as I hate to be the bearer of some bad…
Can You Pay Taxes With A Credit Card?
Sometimes it can seem like a really tempting option to pay your taxes with your credit card, especially if you’re a little bit tight for cash. Not only that but you usually also have a nice little 21-day grace period that can be helpful, but you may also even get some rewards from your credit…
Do Corporations Pay Capital Gains Tax?
Federal and state tax law have recently undergone a change particularly since 2017. Many states have reduced corporate tax rates in the last ten years but what about capital gains tax for corporations? We look at what capital gains tax is, what corporation tax is and the difference between the two. We will then look…
Do Landlords Pay Tax On Rent?
An estimated 10 million Americans earn income from rental properties each year. Renting out private property is a great way to generate additional income, but it must be done correctly. Unfortunately, too many landlords rent out sub-par housing to their tenants and reap extortionate profits, giving landlords the world over a pretty bleak reputation. Some…
Is Life Insurance Taxable? (Best Guide!!)
Life insurance is designed to give you some reassurance that once you are gone the people who relied on you will be looked after. Those people are your dependents and can be your children or a partner. These dependents will be financially safe and there are several different things to think about when taking out…
18 Best Tax Deductions for Nurse Practitioners in 2022-2023
The life of a Nurse Practitioner is never boring. Whether you’re helping a patient with the small injury or working with a child with a complex medical diagnosis, you seems to be running from one patient to another! You spend thousands of dollars each year to keep your private practice running. Have you ever thought…
How Pension (Retirement) Income Is Taxed (A Must Read!!)
Regardless of whether you’ve been saving for retirement for years or just starting out, there may be some tax strategies that you may not be aware of. You may have heard from your financial advisor or from your co-workers that you should contribute to a Retirement or Pension Plan. Before you contribute to a Tax…
What is Exit Tax? (A Must Read)
The US taxes its citizens and residents on their worldwide income, but what about people living abroad? If you’re planning to move outside the country then you may owe Exit Tax (Expatriation Tax). This article will cover who needs pay up the Exit Tax and what key things you need to know about this less…