- The Story Behind the Success at Chief
- Chief is a private network that offers women in the C-Suite a much-needed breath of fresh air – and the breath became a wind that blows ever more strongly today.
- Tax Issues That Arise When Converting a Home into a Rental
- With the current substantial appreciation in home values and demand for housing exceeding the available inventory, along with low home mortgage interest rates, more and more homeowners are converting their existing homes into rentals when they buy a new home. Other reasons individuals may make the conversion include maximizing the tax benefits for an elderly person who can no longer live alone by delaying the sale of that person’s home; and to ensure that a home provides value when its owner takes a temporary job assignment in a different location. Some homeowners even mistakenly think that, when a home has declined in value, converting it into a rental can allow them to deduct that loss. Regardless of why an individual considers making a conversion, several tax matters come into play when making that decision.
- Seek Tax Advisor Recommendations Before Selling an Investment Property
- There are a variety of investment property tax-planning strategies that will provide you with significant benefits. These include:
- Working Abroad Has Huge U.S. Tax Benefits
- U.S. citizens and resident aliens are taxed on their worldwide income, whether they live in the U.S. or in another country. However, qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for their personal services. In addition, they may also qualify to exclude or deduct certain foreign housing costs.
- Video Tips: Tax Deadline Is Here - Do You Need An Extension?
- If a taxpayer cannot file their tax return by the April due date, they can file for an extension of time.
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