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76Should I Collect Social Security Early ???
When the opportunity presents itself to collect Social Security benefits early, there are often numerous factors to consider. The definition of early is typically age 62. The most common answer is… yes you should. However, not always since as with...
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69Taxes Done? Great!! Now, Get Ready for Next Year.
Don't wait until next year to prepare to do your taxes next year. Review this year's return. Adjust your withholding. Get organized. Save your reciepts. Document your business and travel expenses. Be flexible and adjust to tax law changes that may be coming in the future.
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63How to Pick a Municipal Bond Fund: Choosing and buying a muni bond
1. Pay Attention to Taxes. 2. Compare Past Performance 3. Look at Expense Ratios
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72What is a 1099 and Why did I Get One?
IRS Form 1099 is used to report income or earnings paid to you. Self-employed receive a 1099-MISC and must report it on a Schedule C. Other common Form 1099s that can be received include 1099-INT, 1099-DIV, 1099-R, 1099-B, and SSA-1099. Form 1099-C is used to report cancellation of debt. New this year is a Form 1099-K to report third party or credit card transactions paid to you.
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70What is Better, a Tax Deduction or a Tax Credit?
Exemptions, deductions, and credits can reduce your tax liability. Exemptions and deductions reduce your taxable income. Tax credits directly decrease your tax liability, dollar for dollar. A refundable credit can result in a tax refund even when you have no income tax liability or paid no income tax.
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72What do you mean there could be a tax on social security?
Social security benefits are usually tax-free but not always. Interest income, dividends, pensions, IRA distributions, and employment income can all contribute to making your social security benefit taxable. Up to 85% of your social security benefit maybe taxable as income.
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66Taxation Issues for United States Expatriates, Spouse and Children: Dual Citizenship and World Wide Income
Living in a foreign country and being a US citizen is absolutely doable. The I.r.s. can be contacted overseas if you are lucky enough to work and making money in both your homes. Becoming a dual citizen was the way for me. Along the way, I discovered many links, deductions and information that may help you on your path to Global Citizenship - the world is your oyster!
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69Cash Flow After Taxes | How to Compute For Your Next Real Estate Analysis
Learn the four components that make up the cash flow after taxes formula. Learn how to make the computation for your next real estate analysis.
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51Different Types of Taxable and Nontaxable Income Part 2
I’ve written Part 1, which list other forms of taxable and nontaxable income that you might not find in this one. Sometimes it can be confusing trying to determine what types of income are taxable and what would be considered nontaxable income....
0 comments70Different Types of Taxable and Nontaxable Income
Taxable income is a type of income that is taxed through the Internal Revenue Service. Nontaxable income is therefore, not taxed when preparing your Form 1040. With so many different types of income, it can be confusing to determine what would be...
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