Do you earn profits from rental property? Then keep on reading to save money! It’s sad but true. If your income is high enough, you’re paying the 3.8% net investment income tax (NITT). Think of the tax as a surtax on your high income. But here’s some good news. If you own profitable real-estate rentals,there are three exemptions you may be able to useto avoid the 3.8% … [Read more...]
Tax Policy
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Deducting Mortgage Interest When Your Name’s Not on the Deed
Do you live in a house owned by someone else, but it’s you who pays the mortgage? Can you still deduct the valuable mortgage interest? Absolutely! But you have to know the rules and follow them carefully if you want to come out a winner. You can come out a winner because the tax law is surprisingly fair when it comes to mortgage-interest deductions. Want to find out … [Read more...]
How to Avoid a Payroll Tax Nightmare
Careful! Handle payroll taxes the wrong way and you could end up in an IRS agent’s office. Here’s some good advice that can help you avoid a whole lot of pain. Never deal with taxpayers who don’t remit payroll taxes to the government. If you do, you could wind up paying a huge penalty, even if what you think you are is an innocent bystander. That’s what happened to a … [Read more...]
Tax Implications of Investing in Precious Metal Assets
To get my complete, FREE articlewith all the details… The truth is that making an investment in precious metals may well be worth considering. Why? Because they can diversify your portfolio and may provide you with other important benefits. Now please note that the Tax Reduction Letteris not promoting precious metals. I’m writing because I want you to knowthis … [Read more...]
New Hope for Restoring and Fixing the Employee Retention Credit
To get my complete, FREE articlewith all the details… Did it hurt when the Employee Retention Credit (ERC) was repealed for the fourth quarter of 2021? Were you upset when the IRS disallowed the ERC on wages paid to the corporate owner-employee? Well, I’m here to tell you that“The Times They Are a-Changin'.” That’s right. the Employee Retention Creditmay be … [Read more...]