The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...
Posted by Elliot Kravitz, ATP on 11/16/2020
Starting a business can be an exciting new adventure for those with an idea who wish to be self-employed. There are several things to consider, however, when you are opening...
Posted by Elliot Kravitz, ATP on 10/27/2020
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
Posted by Elliot Kravitz, ATP on 10/01/2020
For everyone buying a home via financing, the mortgage interest rate has a huge impact. Mortgage borrowers, however, are interested in the lowest rate possible. Yet, money lenders...
Posted by Elliot Kravitz, ATP on 09/18/2020
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
The Internal Revenue Code is configured to offer numerous tax reductions to individuals and businesses. Even the IRS recognizes that you have to save money to live and manage your...
Posted by Elliot Kravitz, ATP on 08/07/2020
Almost everyone is eager to know when they will have their refunds from the IRS. Thanks to technology, you can track this online and know its status. The IRS' 'Where's...
Posted by Elliot Kravitz, ATP on 07/23/2020
The number of people that employ themselves is rising. This includes freelancers, gig workers, small business owners, and startup finders. It is not surprising that this sector is...
Posted by Elliot Kravitz, ATP on 07/16/2020
We all come to points in our life when we have to borrow money. It could be student loans to finance your education, mortgage to buy a house, or loan for your first vehicle. It could...
Posted by Elliot Kravitz, ATP on 07/09/2020
