NoraGenet's Latest Posts
IRS standard mileage rates for 2023 increases 3 cents per mile
IRS issues standard mileage rates for 2023; business use increases 3 cents per mile IR-2022-234, December 29, 2022 WASHINGTON — The Internal Revenue Service issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an...
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Inflation Alert: Consider Investing in TIPS
Inflation Alert: Consider Investing in TIPS The Fed is finally taking aggressive action to fight inflation, but will it work? Where’s the stock market headed? Who knows? Real estate might be a good inflation hedge, but it’s a non-liquid asset and no sure thing....
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Is a Property Fix-up and Sale an Investor or a Dealer Property?
Is a Property Fix-up and Sale an Investor or a Dealer Property? Background I’m an independent computer consultant who nets $100,000 from my proprietorship. I bought a house in March 2019, fixed it up, and sold it in April 2020 at a net profit of $85,000. I bought...
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Health Savings Accounts: The Ultimate Retirement Account
Health Savings Accounts: The Ultimate Retirement Account Looking to save for retirement? The first account you should open and fund is not an IRA (regular or Roth) or 401(k). If you qualify, your first retirement account should be a Health Savings Account (HSA). Don’t...
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Tax Code Offset Game
2020 Last-Minute Year-End Tax Strategies for Tax Code Offset When you take advantage of the tax code’s offset game, your stock market portfolio can represent a little gold mine of opportunities to reduce your 2020 income taxes. The tax code contains the basic rules...
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