The medical expense deduction is large enough to cover pregnancy tests, braille books, and smoking cessation programs. However, it doesn't cover everything you pay to stay healthy....
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
Medical expenses can be deducted from your federal tax return as much as they exceed 10% of your annual gross income. Most people are aware of the common medical expenses you...
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
Many baby boomers and retirees prefer to invest in savings bonds because they are safe and convenient investments, but stocks don't always earn interest. Over time, they expire,...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...
Form 8396 is an IRS form used by homeowners to apply for a mortgage. The purpose of the mortgage is to help low-income taxpayers pay for their housing. You can only apply for a credit...
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...