Adam’s Tax Blog

Note: Tax advice, articles, and content contained on this site are intended for informational and educational purposes only. They are not a substitute for professional advice. Tax matters are can be extremely complex and vary greatly for each individual or company. Please click here to read our complete disclosure and disclaimer for the information presented on this site.

Homebuyers: Can You Deduct Seller-Paid Points?

Homebuyers: Can You Deduct Seller-Paid Points?

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports existing home sales and prices are up nationwide, compared with last year. One of reason is the pandemic: “With the sizable shift in remote work, current homeowners are looking for...

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Back-to-School Tax Breaks on the Books

Back-to-School Tax Breaks on the Books

Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. No matter how your kids are going back to school, parents may be eligible for certain tax breaks to help defray the cost of education....

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5 Key Points About Bonus Depreciation

5 Key Points About Bonus Depreciation

You’re probably aware of the 100% bonus depreciation tax break available for a wide range of qualifying property. Here are five important points to be aware of when it comes to this powerful tax-saving tool. 1. Bonus depreciation is scheduled to phase out Under...

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Will You Have to Pay Tax on Your Social Security Benefits?

Will You Have to Pay Tax on Your Social Security Benefits?

If you’re getting close to retirement, you may be wondering: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay? It depends on your other income. If you’re taxed, between 50% and 85% of your benefits could be taxed. (This...

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