I’ve come across a lot of folks who have held rental or investment property…
Personal Taxes
Tax Basics
What are taxes?
Taxes are money collected by the government for the purpose of funding government operations
How do you file taxes?
For some, filing taxes can be a breeze, for others it can be a nightmare. Read our articles below to find out the best tax advice for your situation.
Latest in Personal Taxes
January 16, 2021What Is Depreciation and How Do You Calculate It?
In most contexts, “depreciation” is a bad word. It means that something went down…
January 16, 2021Home Sale Gain Exclusion Rules Under Section 121: How Does the Primary Residence Tax Exemption Work?
The $250,000 (single) / $500,000 (married) home sale gain exclusion is a major benefit…
January 16, 2021Tax Brackets for 2019-2020: What Is My Tax Bracket?
The United States imposes a progressive income tax system, which means that a taxpayer’s…
January 16, 2021What Is Schedule E? Your 1040 Schedule E Complete Guide
If during the tax year you collected rental income, earned one-off royalties, or received…
January 16, 2021Bonus Depreciation: What It Is and How It Works
Typically, the IRS requires taxpayers to depreciate assets over several years. This results in…
January 16, 2021H&R Block Review 2020-2021: Honest Review by a CPA
H&R Block has come a long way since it was founded by brothers Henry…
January 16, 2021Tax Refund Pros and Cons: What Are the Downsides of Receiving a Tax Refund?
Every year, the IRS issues over $400 billion in tax refunds. That’s a lot…
January 16, 2021Are Credit Card Rewards Taxable?
Credit card rewards are great, but do you have to pay taxes on them?…