Are you selling an asset? Avoiding Real Estate Capital Gains Tax in 2022It's great to get a good price for your home, but in some cases, the IRS may want some of the action. Indeed,...
Posted by CORE PERFORMANCE on 02/08/2022
Expenses incurred due to the legal costs of running a profitable business that yields an available income is usually listed as a tax-deductible expense. It's only when the legal...
Posted by CORE PERFORMANCE on 01/09/2022
After the death of any property owner, their property must be accounted for and distributed based on their wish. As a result, there should be a will, which should name parties executors...
Posted by CORE PERFORMANCE on 12/18/2021
The executor, most of the time, is charged with filing the state and federal income tax return for the deceased at the year of death. The surviving spouse is responsible if they file...
Posted by Karen Munoz, EA on 12/10/2021
If you think you don't have to pay certain federal penalties or interest, you can request an IRS penalty abatement. If you qualify, the IRS will waive some or all of your penalties.To...
Posted by CORE PERFORMANCE on 11/11/2021
To avoid paying taxes on their earnings, some individuals allocate some of it to their children by listing it in their names.However, the IRS caught wind of this and created a law...
Posted by CORE PERFORMANCE on 10/30/2021
Of all the tax returns submitted in 2019, only 0.4% were audited, and 80% of the review was done via mail. This rate has dropped significantly in consequent years, and the COVID-19...
Posted by CORE PERFORMANCE on 09/09/2021
The idea behind getting life insurance for many people is for their heirs to have enough sustenance and provision after their death. Many people desire for their family members to...
Posted by Karen Munoz, EA on 08/24/2021
The loss of a loved one can lead to emotional burden and significant financial debt related to the settling of the estate. If you are the beneficiary of a retirement plan's assets,...
Posted by Karen Munoz, EA on 07/17/2021
