If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
Posted by Elliot Kravitz, ATP on 04/29/2021
Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
Posted by Elliot Kravitz, ATP on 04/06/2021
For people that relocated to start a new job, they can deduct moving expenses. This deduction is available for people in the military. Rules for Military Qualification Military...
Posted by Elliot Kravitz, ATP on 01/30/2021
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
Posted by Elliot Kravitz, ATP on 01/26/2021
1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...
Posted by Elliot Kravitz, ATP on 08/24/2020
When you receive an inheritance, regardless of the amount, you need to understand how to get the most out of it. Depending on who left you the inheritance, you may have different emotions...
Posted by Elliot Kravitz, ATP on 06/11/2020
Saving for retirement is mandatory, and there are some retirement accounts in which users enjoy tax breaks for having money in their retirement account. Examples are 401(k)s, IRAs,...
Posted by Elliot Kravitz, ATP on 05/17/2020
Voice mails and robocalls are not the scammer’s only option now, they also use the texting strategy. A warning about a new scam that appears to come from Social Security through...
Posted by Elliot Kravitz, ATP on 04/27/2020
In 2015, Congress adopted a centralized audit regime for the partnership (the partnership audit rules) that assesses and collects federal taxes due to a partnership-wide audit entity....
Posted by Elliot Kravitz, ATP on 02/25/2020
