Tax Advantages of Investing In Apartments

It’s no secret that real estate is a tax friendly investment.

There are not many investments that offer the tax advantages that real estate provides. Now, I’m no hater of Wall Street. I feel that diversity is important to any portfolio; but when it comes to taxes, real estate has many other investment vehicles beat.

Longing for Tax Freedom

“I can’t believe it. The wife and I owe the IRS again!” “You mean you aren’t getting a refund this year like millions of working Americans?” “Refund? The wife and I run a small business. We are crushed by taxes. We can barely keep up with what we owe.” Rick McKee / Augusta Chronicle “It…

Working at Home: Who Claims the Home Office Deduction?

Often cited as a “red flag” for audits, the home office deduction is in fact a legitimate business deduction with particular importance for certain careers and small business owners. Moreover—from the housing economics perspective—IRS data concerning the deduction, along with Census data reporting who works at home, can shed light on an important and growing role for homes: workplaces for business owners and telecommuters.

My Father’s 1959 Tax Return

Exclusive Excerpt from: “Comical Sense: A Lone Humorist Takes on a World Gone Nutty!” by Tom Purcell I stumbled upon my father’s 1959 income tax return a few years ago. How I long for the simplicity he enjoyed when he filed his taxes that year. For 1959, my father paid a measly 5 percent in…

5 Questions to Ask Your CPA during Tax Season

Many people talk to their accountant just once a year—right about now, says financial consultant Larry D. Roby. “This is a good time to ask a few questions that may not have occurred to either you or your accountant simply because at tax time, you’re both focused on the task at hand and not the…

Tax Time: 3 Tips for Keeping More of Your Own Money

Nearly 150 million Americans will file federal income tax returns this year and, unfortunately, many will be shelling out much more of their hard-earned money than necessary, says veteran financial expert Jeff Gorton. “With the ridiculous complexity of our tax code, I can understand how the average person might want to put off doing their…

10 Reasons to Stop Receiving a Federal Income Tax Refund

The National Foundation for Credit Counseling (NFCC) February online poll revealed that a strong majority of respondents intentionally plan to receive a federal income tax refund. “The findings suggest that receiving an income tax refund has become standard operating procedure for some people, as 2014 is the second year in a row that the majority…

Tax Breaks for Homeowners

By Vera Gibbons – With tax season rapidly approaching, it’s time to get your paperwork in order and consider all the ways to minimize your tax liability. Whether you’ve got a single-family home, a town house, condo, or even a floating home, there are various home-related expenses that you should be sure to deduct. We suggest…

Do You Live in Fear of an IRS Audit?

It is no secret that one of the biggest fears people have is receiving an audit notice from the IRS. It ranks right up there with being diagnosed with a life-threatening illness. Of course, the IRS does nothing to alleviate this fear because the more frightened you are, the less likely you will be to…