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…
10 Best Insurance Companies for Business Vehicles
Did you know that if you have a business vehicle that you use primarily for work, you can’t put it on your personal auto insurance policy? Sure, several top auto insurance companies, such as Progressive and Nationwide, offer auto business policies in addition to their personal auto lines, but the two are wildly different. Driving…
Are Car Repairs Tax Deductible For Small Businesses? ( A Must Read!!)
When you’re a small business owner, every penny matters. So, when something goes wrong with your business vehicle, it’s important to know if the repairs are tax deductible. Unfortunately, the answer isn’t always clear cut. In this blog post, we’ll take a look at “Are Car Repairs Tax Deductible For Small Businesses?” Are Car Repairs…
This Is How Index Funds Work ( A Must Read!!)
In April 2022 alone, the S&P 500 fell more than 13%. The state of the Nasdaq Composite is worse, having fallen 25% since the beginning of the year. After record gains, Americans are undoubtedly worried about the onset of a bear market. But if there’s one thing to remember when it comes to investing, it’s that the stock market always ebbs and…
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…
Is Cancellation of Debt ( 1099-C ) Income Taxable?
Are you wondering if you need to pay income Taxes on Cancellation of Debt Income, then you are at the right place. We will explain you Cancellation of Debt Income(COD) and also provide you few exceptions that can be used to avoid paying income tax on the 1099C income Legally. What is Cancellation of Debt…
How to Withdraw Early From a 401(k) (A Must Read!!)
In 2021, the average 401(k) balance was $129,157. While this is an increase from the previous year, it’s in no way enough money for retirement. When viewing the money in your account, it can be tempting to want to withdraw and spend it. However, you should only consider an early withdrawal if it’s absolutely necessary and under specific…
Does TradeStation Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using TradeStation online or TradeStation App to trade stocks, you may be wondering – Does TradeStation report to the IRS? The answer is…Yes. Keep reading for more information on how TradeStation reports taxes…
Does M1 Finance Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using M1 Finance online or M1 Finance App to trade stocks, you may be wondering – Does M1 Finance report to the IRS? The answer is…Yes. Keep reading for more information on how…
Does Webull Report to the IRS? (A Must Read)
If you’re like most people, you probably don’t think much about your income tax until it’s time to file. And if you’re using Webull online or Webull App to trade stocks, you may be wondering – Does Webull report to the IRS? The answer is…Yes. Keep reading for more information on how Webull reports taxes…
