NOTE: Due to the COVID-19 coronavirus pandemic, the IRS has extended the federal tax filing and payment deadline to July 15, 2020. The recent relief package passed by Congress may have additional tax implications. Please contact a tax adviser for information you may need to complete your taxes this year. Learn More. Note: This article is… Read More
The post What Is a 1099-C Cancellation of Debt Form and How Does it Impact Your Taxes? appeared first on Credit.com.
Inheriting a home or other property can increase the value of your estate but it can also result in tax consequences. If the property you inherit has appreciated in value since the original owner purchased it, you could be on … Continue reading →
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I messed up! Despite trying to make this article as fact-based as possible, I botched it. I’ve made corrections but if you read the comments, early responses may be confusing in light of my changes.
For the most part, the world of personal finance is calm and collected. There’s not a lot of bickering. Writers (and readers) agree on most concepts and most solutions. And when we do disagree, it’s generally because we’re coming from different places.
Take getting out of debt, for instance. This is one of those topics where people do disagree — but they disagree politely.
Standard versus itemized deduction: Which one should you claim? If this question is weighing heavily on your mind as you file your taxes this now that all the new tax reforms have taken effectâthen let this guide help you decide.
The post Standard vs. Itemized Deduction: Which One Should You Take? appeared first on Real Estate News & Insights | realtor.comÂ®.