Paying Taxes on Inherited Property
If you inherit a piece of land or a car or jewelry or anything that isn’t cash, and you turn around and sell it immediately, chances are that your taxes are zero.
Can employers match ROTH 401k plans?
Secure 2.0 section 604 now allows employers to match your ROTH contributions directly into your ROTH 401k.
Are Home Improvements Tax Deductible? (part 2)
When can you deduct you home improvement expenses? Does it go on a tax form? How are home improvements a tax deduction?
Are Home Improvements a Tax Deduction?
Home improvements and taxes, what actually qualifies as an improvement? Are home improvements tax deductible?
Can I Rent my Home to My Business Tax-Free?
The Augusts Rule says that you can rent out your personal residence for less than 15 days per year and it is NOT income.
Why Do I Owe Taxes on My Inheritance?
When you make withdrawals, you will get a 1099-R at the end of the year and you need to report it as retirement income, even if you are not retired, even if you had taxes withheld.
Business or Hobby? – Are you overpaying you taxes?
Don’t let tax software convince you that you are a business because you got a 1099. Hobbies are reported as “other income.”
Is driving to work a Tax Deduction?
If you are driving to and from your primary location of work, no it is not a tax deduction.
Insolvency: Word of the Week
What is insolvency and why is it important? What is Form1099C? Is it taxable? Is cancellation of Debt taxable?
No Tax on Car Interest?
Is car interest now tax-free? Diane explains car interest changes in the One Big Beautiful Bill in this video.