The life of a Lawyers is never boring. Whether you’re helping a client with the personal injury case or complex Estate Planning Issues, you seems to be running from one client to another! You spend thousands of dollars each year to make things happen. Have you ever thought about which expenses are tax-deductible? In this…
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18 Best Tax Deductions for Doctors in 2021-2022 (Ultimate Guide)
The life of a Doctors is never boring. Whether you’re helping a patient with the small injury or working with a child with a complex diagnosis, you seems to be running from one patient to another! You spend thousands of dollars each year to make things happen. Have you ever thought about which expenses are…
18 Best Tax Deductions for Architects in 2021-2022 (Ultimate Guide)
The life of an Architect is never boring. Whether you’re helping a couple design their personal residence or working on a hotel project, you seems to be running from one project into another! You spend thousands of dollars each year to make things happen. Have you ever thought about which expenses are tax-deductible? In this…
How Tax Law Applies to Fringe Benefits
As the economy continue to grow rapidly, it is very hard to find qualified employees. Companies large and small are not only offering competitive pay but also are offering many Fringe Benefits. In this article, Lets learn How Tax Law Applies to Fringe Benefits. Certain fringe benefits you receive from your employer are non-taxable. For…
Tax-Sheltered Annuity: How Are Annuities Taxed?
How prepared are you for retirement? With people living longer thanks to modern medicine, saving up enough money for your golden years can seem frightening. In this article, you’ll learn about the Tax Sheltered Annuity & How are Annuities Taxed? Let’s dive in. If you already have retirement accounts, that’s a step in the right…
How to Choose Tax Preparation Services: Everything You Need to Know
As we wade into the 2022 tax season, you don’t want to delay looking for the right tax professional for you and your situation. You also don’t want to select the first preparer you find without doing the necessary research. Preparing for tax season is crucial, especially if you have a tricky tax situation. There…
Marginal vs Effective Tax Rate: A Comparative Guide
Did you know that the US tax system is a progressive system? This means that the taxes you need to pay is based on your annual income. Marginal and effective tax rates will determine which tax bracket you are in. This article will discuss differences, examples, and tax planning strategies to ensure you have the best…
Capital Gains Tax on Real Estate: Everything To Know
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…
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…
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…