tax return

Roth IRAs tend to get a lot of hype and for good reason. Because you pay the taxes up front, your eventual withdrawals (assuming you meet the age and holding-period requirements — more on these below) are completely tax-free.

Housing is a big expense for everyone. The choice generally involves either renting or purchasing – and financing that purchase with a home loan. This article explores the tax benefits and drawbacks that individuals should consider when deciding whether to buy a home.

PROVEN TAX REDUCTION STRATEGIES FOR SOLE PROPRIETORS

If you operate your business as a sole proprietorship, there are many strategies to reduce your taxes.

Let’s start with the following 10:

Whether your Social Security benefits are taxable (and if so, the amount that is taxed) depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits.

If you are a business owner, using corporations to help you reduce taxes and provide increased legal liability protection is a viable plan. Choosing which type of corporation depends on many factors, and some of those factors come down to the tax savings strategies. Here are a few to consider:

Tax Strategies for S-Corps

Here are a few tips for saving on taxes for your rental properties. Did you know that the Tax Cuts and Jobs Act created a 20% tax deduction possibility? A new "Safe Harbor" has also been made for Section 199A rental properties. If you've wondered how to handle multiple rental activities and the 199A deduction, you'll find information on that here, as well.

If you would like to make a substantial tax-deductible charitable donation this year, but have the ability to spread the actual distribution of funds to specific charities over a number of years, a donor-advised fund (DAF) may fill that need.

Here are a few tips for saving on taxes in your business. Did you know that you can take the home-office deduction, even if you spend more time at a separate location? You may also want to be aware of the survival of the Employee Recreation and Parties tax code through TCJA Tax Reform and how to claim the most benefit.

If your family has trouble with the kiddie tax, you face some new wrinkles for tax years 2018 through 2025 thanks to the Tax Cuts and Jobs Act (TCJA) tax reform. This is one of the many areas where tax planning can pay off.