Self Employed
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Elusive Employee Business Expense Tax Deduction

One major difference between being an employee and being self-employed is how you deduct the expenses you incur related to your work. A self-employed individual is able to deduct expenses on his or her business schedule, while an employee is…
Solar Energy
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Is Solar Energy Right for You?

It seems like you can’t watch TV these days without being exposed to home solar ads touting free electricity and big tax credits. Be careful, as these savings and tax credits may not be all that they are advertised to be; this depends upon…
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Using Online Services Such as Airbnb to Rent out Your Home? Better Read This!

Renting out your home or second home for short periods of time is becoming increasingly popular with the advent of online services that match property owners with prospective renters. The online sites providing these services include Airbnb,…
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Tax Implications of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site…
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Consequences of Filing Married Separate

If you are married and thinking about not filing a joint return with your spouse, you will most likely use the married filing separate (MFS) filing status. If you are considering filing MFS, then you should be aware that the tax code is laced…
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Don’t Be Scammed by Fake Charities

Each year at this time, the IRS publishes its list of the “dirty dozen” tax scams. Among the dirty dozen are groups that masquerade as charitable organizations to attract donations from unsuspecting contributors. Before you write a check,…
Real Estate Flipper
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Thinking of Becoming a Real Estate Flipper? Here’s a Primer on the Tax Rules

With mortgage interest rates low and home prices finally making a comeback, flipping real estate appears to be on the rise. This activity is even the theme of several popular reality TV shows. House flipping is, essentially, purchasing a house…
Single Family
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Tax Benefits for Single Parents

If you are a single parent dealing with the complicated tasks of working and raising a family, there are some tax benefits and issues you should be aware of. Filing Status – Just because you are single or widowed does not mean you have…