Tag Archives for " tax breaks "
Senior Tax Breaks: Essential Benefits After 50
Understanding Senior Tax Breaks: A Guide for Ages 50 and OlderDid you know that several tax credits, deductions, and rules are specifically tailored based on your age? For instance, age might determine
Read MoreIRS Targets Sports Teams, Boosts Wealthy Tax Filers Enforcement, Cites Tax Losses
Buying and running sports teams come with certain tax breaks (from tax losses).The Internal Revenue Service (IRS) will intensify its scrutiny of the sports industry’s reporting of sports teams' tax losses,
Read MoreCARES Act Lets You Withdraw Up To $100K From Retirement Plans
The Internal Revenue Service recently posted a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for
Read More10 Things You May Not Know Are Taxable
If you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn’t stop there.If you’ve picked up some extra
Read MoreNice-Try Tax Breaks Rejected by the IRS
Over the years, taxpayers have concocted a lot of zany arguments to justify their tax breaks. Here are some of the most creative ones that the courts decided did not quite work. Take note: many of these
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