“Primer: When Cancellation of Debt(COD) Income Can Be Tax-Free” To get my complete articlewith all the details... Too many people are in debt and even more will likely become indebted as we possibly dip into a recession. A quick look at debt cancellation While the general federal income-tax rule states that cancellation of debt (COD) income is taxable, there are … [Read more...]
Tax Consequences of a Short Sale of Your Principal Residence
“Tax Consequences of a Short Saleof Your Principal Residence” To get my complete articlewith all the details... What is a “short sale”? A “short sale” is a way for financially struggling homeowners to avoid foreclosure. When does a short sale make sense? It can be a good move when a homeowner’s home is worth less than the amount of their loan. Here’s where … [Read more...]
Are You Cheating Yourself by Using IRS Mileage Rates?
“Are You Cheating Yourselfby Using IRS Mileage Rates?” To get my complete articlewith all the details... What a pity. Choosing the wrong mileage rate can cost you a whole lot of money. That’s why I’ve written my new article. In it, you’ll learn one, true, easy way to know whether the IRS “optimal mileage” rate works better for you than the actual expense … [Read more...]
Section 1031 Exchanges vs. Qualified Opportunity Zone Funds: Which Is Better?
“Section 1031 Exchanges vs.Qualified Opportunity Zone Funds:Which Is Better?” To get my complete articlewith all the details... ------------------------------------------------------------------- Quick Definitions: Qualified opportunity zones are economically distressedcommunities that seek investment. If you make appropriateinvestments you may qualify … [Read more...]
Is Crowdfunding Taxable?
“Is Crowdfunding Taxable?” To get my complete articlewith all the details... Want to give away your money? Crowdfunding makes it easy. Web sites like GoFundMe, Kickstarter, and hundreds of others let members of the public and businesses support all kinds of causes by giving away small or large amounts of money. Check out this surprising fact. The amount of … [Read more...]