Tag: Red flags
Tax deductions on home equity loans and mortgages have long benefited homeowners. These deductions allow homeowners to reduce their taxable income by…
How the IRS interprets taxing rebates, points, and rewards can be confusing, at best. For example, your credit card rewards may be taxable income.…
Timber sale taxes are relatively obscure IRS and SALT taxes. These taxes apply to all taxpayers, whether they’re retired, aren’t business owners, or…
Your hobby profit and loss situation may be your tightly-held secret, but the IRS knows how to get into your business. Literally! The more secret…
Working under the table or paying someone under the table is “unreported employment” usually paid in cash since it’s harder to trace. According…
The IRS knows who owns bitcoin. Since before 2015, they’ve been checking the list and collecting red flags, and chances are good they’re now humming…
Teachers spend a lot of money on their classrooms. With the educator expense deduction set at just $250 per eligible educator, teachers must plan…