Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
Posted by Rosovich & Associates, Inc. on 01/06/2021
Article Highlights:Keeping home improvement records Home gain exclusion amounts Records may be required to avoid taxIndividuals who meet the 2-out-of-5-year use and ownership...
Posted by Ace Plus Tax Resolution on 08/04/2020
Young families can keep their tax bills low by following some significant measures. Our list will help them to save for college, benefit from their flex account, and through many other...
Posted by Patrick O'Hara, EA on 02/01/2016
Individuals can exclude up to $250,000 of income from capital gains tax on the sale of their primary residence, thanks to the Internal Revenue Code (IRC) exclusion of home sales. Married...
Posted by Elliot Kravitz, ATP on 06/11/2021
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
Posted by Elliot Kravitz, ATP on 02/17/2021
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
Do you lose sleep when it comes to managing your finances? If so, you are in good company. In a survey conducted in 2018, 30% of Americans said they were continually being asked for...
Posted by Elliot Kravitz, ATP on 08/02/2019
Over the last 70 years, child support payments have been deductible by the payer and taxed as income for the recipient (note that significant rule changes occurred in 1984). The previous...
Posted by Elliot Kravitz, ATP on 08/02/2019
Single (Filing Status: "Single"):Definition: You can file as single if you are unmarried, divorced, legally separated, or widowed.Advantages: May be eligible for certain...
Posted by True Tax Service on 10/23/2023
