Homeowners benefit from appreciation, forced savings in the form of principal repayment toward mortgages, and often lower annual housing costs compared to local renters. These advantages are compounded by a tax code that favors property owners. Beyond simple homeownership, real…
When you hold an asset like an investment property for longer than one year and sell it for a profit, you pay capital gains taxes on that profit. Maybe. Or maybe not if you use tax loopholes like a 1031…
Preparing your federal tax return is hard enough when you live in the U.S. But as an expat living in another country? Fuhgeddaboudit. I spent four years living in the United Arab Emirates and now live in Brazil. And while…
If you were one of the millions of people who became a homeowner between 2008 and 2010, whether it was your first time or your fifth, your purchase will have quite a noticeable effect on your taxes. That’s not only…
Whether you’re new to the world of investing or thinking of selling stocks, bonds, or real estate you’ve had for some time, you need to understand how you’ll be taxed on the income you generate. When you sell an investment, you pay…
I like to think I know more about credit cards than the average person. I’ve written dozens of credit card reviews for Money Crashers and personally tried out more credit cards than I’d like to admit. So I was surprised…
The tax resolution industry has a reputation for sketchy, even predatory behavior. By the time you’re tens of thousands of dollars in debt to the IRS, you’re willing to believe pie-in-the-sky promises of fast, painless fixes to wipe out most…
People with sizable assets often think about ways to minimize their tax burden. In the past, one popular idea for parents had been to shift assets to young children, who typically faced a lower tax rate on investment income. As…
If you’re self-employed or an independent contractor, you probably already know your tax situation is a bit more complicated than the average person. You fill all the shoes in your business, from accountant to HR manager. Sure, you get the…
Given the complexity of the U.S. tax system, it’s natural to get stressed if you think you made a mistake when filing your taxes — or know you did. But what’s the IRS going to do about it? You’re probably…
End of content
End of content
