federal taxes Archive
TweetShareSharePin0 Shares August 15th was the deadline to take advantage of the premium tax credits (PTC) originally provided in the Affordable Care Act (ACA) and recently expanded in the American Rescue Plan Act (ARPA). Future extensions may provide longer-lasting benefits, although the extensions may create trade-offs for consumer choice and program costs. The ACA provided
TweetShareSharePin0 Shares Democratic sparring continues over the budget. Looking to balance demands of moderates and progressives, House Speaker Nancy Pelosi says she may ask the House to consider both the Senate-passed infrastructure bill and a $3.5 trillion budget resolution as soon as next week. She took the step after nine moderate Democrats said they would
TweetShareSharePin0 Shares Buried in today’s partisan squabbles over President Biden’s ambitious domestic agenda is a fundamental question: How can government best increase the nation’s wealth? Does it do so by taxing the wealthy and spending more on income supports for much of the public, as many Democrats want? Or by limiting taxes on capital income
TweetShareSharePin0 SharesFinancial Incentives for Using Solar Power in Your Home It is undeniable that energy prices are going through the roof. Just take a look at your utility bill. The good news is using solar power can save your bank account, particularly with new incentives. Personal Tax Credit and Deductions If anything is more aggravating
TweetShareSharePin0 SharesOn My Taxes, Is There A Limit To The Amount Of Mortgage Interest That I Can Deduct? Each year, there is a limit as to the amount that an individual can deduct from their taxes in response to the amount of mortgage interest that the individual has paid over the course of the year.
TweetShareSharePin0 SharesIncorporate My Business Why? Incorporating your businesses is the process of converting a business into a corporation. Incorporating your business means that your business is now finally a separate individual in the context of the governing laws of the land. After successfully incorporating your business, you will be allowed to use the corporate qualifier
TweetShareSharePin0 SharesBen Franklin Didn’t Quite Get It Right When Ben Franklin said “a penny saved is a penny earned”, he didn’t quite get it right. Actually, a penny saved is worth more than a penny earned. Do you find this statement shocking? I am about to prove to you that what I’m saying is true.
TweetShareSharePin0 SharesWhat Are SBA Loans And How To Apply For One Small businesses that cannot secure a loan through conventional means can apply for one of the SBA loans in order to obtain funds. However, they must first attempt to obtain a loan through a commercial lender, private source, or bank. Once the business is
TweetShareSharePin0 SharesCaptial Gains Tax Explained Capital Gains tax is a federal tax penalty that is imposed on capital accumulation, investment and productivity. Some of the income that is subject to capital gains tax includes the sale of an investment, a home, a family business, a farm or ranch or even a work of art. The
TweetShareSharePin0 Shares Mega-IRAs are hot this summer, following a June 2021 report by the nonprofit news service ProPublica that revealed—based on leaked IRS files—that a handful of high-net-worth individuals have accumulated massive individual retirement account (IRA) balances. The congressional Joint Committee on Taxation also reported that in 2019 more than 28,000 taxpayers owned IRAs worth