Do you think you’re paying too much in taxes? The Wall Street Journal is giving us a colorful breakdown of how each facet of our population falls into our tax scheme, and how it aligns with their income.
Tag: tax codes
Tax Rules To Know For Renting Out Your Home
Do you have a home that you’re using to rent out long term or to vacationers out for a time away from home? There are some important tax rules that you should know to stay on the good side of the IRS…
“The tax implications of renting out your home change dramatically if you decide to do so for longer than 14 days each year. If you only rent out your home for 14 days or less, then the IRS largely treats the enterprise as a nontaxable hobby….” [ Read more here ]
Proposed Tax Cut Plan Overview
The federal tax code is about to undergo some big changes which have been proposed by President Donald Trump. How will going from seven brackets down to the suggested three affect your pocket?