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.

Home Is Where the Tax Breaks Might Be

Home Is Where the Tax Breaks Might Be

If you’re a homeowner, the interest you pay on your home mortgage may provide you with a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity loans is deductible. Unfortunately, this isn’t true. First, keep in...

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Work Opportunity Tax Credit Extended Through 2020

Work Opportunity Tax Credit Extended Through 2020

If you own a business, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC). The WOTC was set to expire on December 31,...

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The Tax Aspects of Selling Mutual Fund Shares

The Tax Aspects of Selling Mutual Fund Shares

Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved...

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Do You Want To Go Into Business For Yourself?

Do You Want To Go Into Business For Yourself?

Many of the people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that type of business entity. 1. You may qualify for the pass-through deduction. To the extent your business generates...

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There Still Might Be Time to Cut Your Tax Bill with IRAs

There Still Might Be Time to Cut Your Tax Bill with IRAs

If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d like it to be, you may still have an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA up until the Wednesday, April 15,...

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Answers to Your Questions About 2020 Individual Tax Limits

Answers to Your Questions About 2020 Individual Tax Limits

At this point in time, you may be more concerned about your 2019 tax bill than you are about your 2020 tax situation. That’s understandable because your 2019 individual tax return is due to be filed in less than three months. However, it’s a good idea to familiarize...

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