Buying an Electric Vehicle? Know These Tax Law Changes Are you thinking of buying an electric vehicle or a plug-in hybrid? And are you looking to benefit from the $7,500 tax credit? If so, you have much to consider—thanks to the newly enacted Inflation...
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...
Tax Implications of Investing in Precious Metal Assets These days, some IRA owners and investors may be worried about being overexposed to equities. That could be you. But the safest fixed income investments (CDs, Treasuries, and money-market funds) are still paying...
Do you need more 2020 tax deductions? Here’s an easy question: Do you need more 2020 tax deductions? If yes, continue on. Next easy question: Do you need a replacement business vehicle? If yes, you can simultaneously solve or mitigate both the first problem...
The purpose of this post is to get the IRS to owe you money. The purpose of this post is to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the...
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...
