opinion
Do you have to be the owner of a condo to rent it out?
Many HOAs approve rentals on a first-come, first-served basis, so there’s a chance you’ll end up on a waiting list. New condo owner requirements may be in...
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Opinion
opinion
What is the basis of assets distributed to a shareholder in liquidation?
The shareholder’s basis in assets received is their FMV at the time of the distribution. Basis is not affected by the shareholder’s assuming corporate lia...
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opinion
Do you get a tax break for renting a house?
If you receive rental income from the rental of a dwelling unit, there are certain rental expenses you may deduct on your tax return. These expenses may i...
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opinion
How can I avoid paying taxes next year?
Top 8 Year-End Tax Tips Defer your income. Take some last-minute tax deductions. Beware of the Alternative Minimum Tax. Sell loser investments to offset g...
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opinion
Will CD rates go down if Fed cuts rates?
The Fed affects savings and CD rates Yields on certificates of deposit (CD) generally fall when the Fed cuts rates as well, but broader macroeconomic cond...
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opinion
Can I open a tax-free account for my child?
You cannot open an IRA account in a child’s name, however, a child can open their own when they start earning taxable income. Families can open a custodia...
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opinion
What is the mileage rate for VA travel pay?
41.5 cents Mileage reimbursement rate We currently pay 41.5 cents ($0.415) per mile for approved, health-related travel. We use Bing Maps to calculate you...
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opinion
What is the deadline for T4A slips 2020?
In all instances, you have to file your T4A information return on or before the last day of February after the calendar year the information return applie...
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opinion
Can a mother lose custody for working too much?
Parents who work a lot can risk losing custody rights in a dispute. Because the courts believe that parents must be present and active in their children’s...
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opinion
What are the assets of a business sold?
A business usually has many assets. When sold, these assets must be classified as capital assets, depreciable property used in the business, real property...
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