Quick Tips for Tax Return Extensions
Friday, July 10
Adjusted DeadlineIn the midst of the coronavirus, the Internal Revenue Service (IRS) extended the due date for 2019 federal tax returns from April 15 to July 15, 2020, but if you need even more time, you can request an extension until October 15, 2020. Here's what you need to know about extension...
Tax Implications of Selling Your Main Home
Wednesday, June 24
Free Money According to the IRS, homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home. Taxpayers can exclude up to $250,000 ($500,000 Married Filing Jointly) of gain on the sale of a home. This is known as the Section 121 Exclusion. To claim...
Rental Property Bookkeeping 101: Tips for Successful Bookkeeping
Wednesday, June 24
Owning rental properties can be a lucrative way to make money from the housing market and set yourself up for retirement, but to be successful, you need to pay attention to the numbers. With the right tips, real estate accounting can be relatively simple. Check out these essentials: 1. Track the ...