“Marriage: A Big Step withBig Tax Implications” To get my complete articlewith all the details… Marriage is a life-changing decision rooted in love—but did you know it can have a major impact on your finances and taxes? Before you say “I do,” explore the lesser-known tax consequences of tying the knot. From the “marriage penalty” to tax breaks you might lose, … [Read more...]
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How to Make Your Winter in Florida and Summer in Massachusetts Tax-Deductible
"How to Make Your Winter in Florida andSummer in Massachusetts Tax-Deductible" To get my complete articlewith all the details… Are you dreaming of spending winters in sunny Florida and summers in Massachusetts? It might be possible to make this lifestyle tax-deductible, just like in the case of Mr. Andrews. In our latest article, "Tax Planning to Winter in Florida … [Read more...]
Exceptions to the 10% Penalty for Early IRA Withdrawals
“Exceptions to the 10% Penaltyfor Early IRA Withdrawals” To get my complete articlewith all the details… If you’re in a pinch, and want to withdraw money from your IRA before you turn 59 ½, be careful. You see, you may have to pay a hefty price for that withdrawal. Here’s the story. Most traditional IRA withdrawals are at least partially taxable. The … [Read more...]
Can You deduct a Loss From an Airbnb Bedroom Rental?
“Can You deduct a LossFrom an Airbnb Bedroom Rental?” To get my complete, FREE articlewith all the details… Let’s say you rent a bedroom in your home to someone on an Airbnb basis. And let’s say you lose money on the deal. Can you deduct the loss? The simple answer is, that in general, the answer is yes! Of course, losing money on your Airbnb bedroom is no … [Read more...]
Tax-Free Income From 14-day “Augusta rule”
“Tax-Free Income From 14-day“Augusta rule” To get my complete, FREE articlewith all the details… Are you running an S corporation? Then you should know about the Augusta rule. The Augusta rule gets its name from the Masters Golf Tournament where some members and others who live in the area, receive tax-free rent by renting their homes out for a week or two. … [Read more...]