Possible PPP Legislation & 1099-B
Possible PPP Legislation:
https://www.bloomberg.com/news/articles/2020-05-26/hoyer-says-house-and-senate-close-on-ppp-loan-extension
Form W-4P
https://www.irs.gov/pub/irs-pdf/fw4p.pdf
IRS Notice 2020-3
https://www.irs.gov/pub/irs-drop/n-20-03.pdf
Tax Benefits of Owning a Home
Tax Benefits of Owning a Home Deducting mortgage interest In most cases, you can fully deduct your mortgage interest secured by your primary or secondary home. Beginning in 1987, mortgage interest to buy, build, or improve your home (acquisition debt) up to $1,000,000 or home equity loans up to $100,000 became tax deductible. Points (also known…
Popular Tax Credits for First-Time Homebuyers, Students and Those With Childcare
Popular Tax Credits for First-Time Homebuyers, Students and Those With Childcare By Victor Omelczenko 1/26/2009 Whether you’re looking to lower your tax bill or increase your refund, these IRS tips can help your bottom line. Tax credits can help pay the cost of raising a family, going to college, saving for retirement or getting day…
Profit From Your Children
Profit From Your Children Profit from your children? Making maximum use of your dependents can help slash your taxes significantly. “Dependents” generally mean your kids, but many of these gambits also work with low-income parents you might be assisting financially — even if they aren’t your dependents. Here are a few to consider. Hire your…
Myths About Trusts
Myths About Trusts Trusts are a dependable way to arrange for the management of family funds. Yet even financially sophisticated people settle for less satisfactory alternatives. Lack of knowledge isn’t the problem. It’s the assorted myths about trusts handed down over the years. Myth #1. Only the very rich use trusts. Because what the superrich…