If you plan to sell your home at a profit, you may assume there won't be a tax to pay on the sale. In most cases, this is a pretty good assumption due to the $250,000 exclusion of gain tax break on the sale of a principal residence ($500,000 exclusion
One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan. If your employer offers a 401(k) plan, contributing to that is likely your best first step. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now
Are you sure you want to be a landlord? We have all heard stories about challenging experiences with tenants. Like the one tenant who took almost every fixture when they moved out: curtain rods, towel bars, carpet, you name it. Putting up with tenants can be a real pain. But
In some cases, individuals reach a point where deferring taxes to the max is counter-productive. There Are Several Reasons Why this Happens For one thing, while deferring taxes is a good idea when personal tax rates are going down or staying the same, it's likely that federal income tax rates
In the quest to reduce your tax bill, year end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear: 1. Consider your bracket The top income tax
