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4 Important LLC Tax Benefits In 2024
๐ Many entrepreneurs opt to structure their small business as a limited liability company, or LLC. An LLC protects ownersโ personal assets from lawsuits and some creditors. It also provides an easy-to-use business structure. In addition to these benefits, LLCs also...
Income Verification Express Services (IVES) Policy Update
๐ The IRS IVES program lets taxpayers authorize third parties (IVES participants) to request their tax return or wage transcripts to obtain a residential or commercial mortgage on real property (real estate). IVES participants can include banks, credit unions,...
7 Smart Ways to Invest Your Tax Refund
๐ You can maximize your tax refund in several ways, from paying off high-interest debt to investing in a business or saving for retirement. A tax refund is a great opportunity to set yourself up for the future. If you're expecting a windfall from the IRS this year,...
20 Popular Tax Deductions and Tax Breaks for 2023-2024
๐ Tax benefits are generally broken into two major categories: tax deductions and tax credits. As you examine programs that could potentially apply to you, it's a good idea to know the differences in how tax savings can work. In short, a credit gives you a...
Essential IRS Federal Tax Deadlines for the 2023
The 2024 tax season, covering the 2023 tax year brings its own set of deadlines and requirements for taxpayers. This detailed guide will explore key dates for tax returns, extensions, and IRS interactions, providing valuable insights for both individual and business...
What You Need to Know About IRS Tax Changes for 2024
๐ The Internal Revenue Service (IRS) recently bumped the income thresholds for its tax brackets by 5.4% for 2024, its latest adjustment to account for elevated rates of inflation. The move is unlikely to produce a material change on most Americansโ tax burdens,...
Tax-Aware Investment Strategies You Should Consider
Although taxes shouldn't necessarily drive your investment decisions, thoughtfully evaluating the asset classes you choose and the accounts you hold them in could help you lower your tax bill. While tax rules and rates may change over time, the value of keeping taxes...
How does a Health Savings Account (HSA) Work?
Health Savings Account (HSA) work together with an HSA-eligible health plan. If you're enrolled in this type of health plan, you can make pre-tax contributions to an HSA, allowing you to pay for qualified medical expenses tax-free. This can help create a cash cushion...
Mortgage Rates Near 20-Year Highs
๐ Mortgage rate races toward 8% after hitting a high not seen since late 2000. The average rate on the popular 30-year fixed mortgage rose to 7.72%, according to Mortgage News Daily. Mortgage rates follow loosely the yield on the 10-year Treasury, which has been...