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Property tax liens can be a viable investment alternative for experienced investors that are familiar with the real estate market.
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Nobody likes taxes, but tax reporting is an inevitable and unavoidable part of investing. If you buy stock, determining your costs basis is a slightly frustrating but fairly straightforward exercise. Your cost basis is the price you paid per share, including sales commissions, adjusted for corporate actions such as stock splits, mergers, and dividend payments.
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In any transaction between a buyer and seller, the initial price paid in an exchange for a product or service will qualify as the cost basis. When it comes to securities and related financial assets, determining the initial cost basis when there is only one initial purchase is very straightforward.
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Taxes are an annoying annual chore akin to going to the dentist. Luckily, however, some of us get a nice tax refund after the process. It's important to use this refund wisely though, and Canadians have a number of wise options to consider.
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Canadian mortgages aren’t tax-deductible like the U.S.-based mortgages, but there's a way around this hurdle.
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Understanding equity cost basis is critical for tracking the gains or losses of an investment.
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With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate of tax that is disproportionate to their earnings and in comparison with the country's wealthiest earners.
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The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line.
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When you hire an accountant, getting good tax advice going forward is as valuable as – or perhaps even more valuable than - getting the previous year’s taxes filed correctly. Learn what you need to do to make this happen.
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Depending on which estimate you believe, Obama's proposed budget would raise the tax bill of a household with a yearly income of $50,000 to $75,000 between $63 and $100 per year. However, that’s not all you should know.
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This year, combine your spring cleaning strategies with your big-picture financial objectives.
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If the IRS finds errors, it will cost you. Find out how to fix them, and how to prevent them in the first place.
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You might be ready to put the stress of tax preparation behind you until next season, but ignoring your personal tax situation for 11 months of the year is what got you into this mess. Find out how some simple organization and planning techniques can make next year's tax preparation a low-stress task.
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Identity thieves love tax season. In 2012, there were 13 million victims of identity theft. As easy as it is for thieves to steal your information, there are also simple measures you can take to keep your personal information secure. Find out the proactive steps you can take to ensure thieves don't steal your tax refund by falsely filing your online return.
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This year, find out how to stretch your tax refund further to strengthen your future.
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With approximately 12 million Americans out of a job right now, many people are spending significant dollars to be noticed by potential employers. Fortunately, some of these job-search costs are deductible at tax time. Learn the details of what job-hunt expenses qualify for deductions and how much you can deduct.
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The government is considering letting the IRS do your taxes for you. While this may sound great, there are plenty of reasons why you may not want to trust the IRS to calculate your tax return. And while you could stand to lose out on a few bucks, companies like Turbo Tax are and H&R Block are fighting hard to save their tax-preparation empires.
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If you report a tax evader to the IRS, you could be eligible for a reward.
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The desperate search for revenue by the U.S. government means one of the key deductions that may be up for either reduction or elimination is for charitable giving.
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For investors, the surge in new REIT activity is providing some pretty interesting dividend opportunities.
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These little-known tax deductions can lead you to finding your own unique expenses that you didn't know you could claim.
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States will now be allowed to collect sales taxes on purchases made from Internet-based retailers even if the retailer has no physical presence in that state.
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Incorrect or liberal interpretations of what you can write off will often lead to the IRS taking closer interest in your filings. Knowing the rules behind these six tax deductions will go a long ways to saving you from an audit.
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Find which benefits from reward programs count as income in the eyes of the IRS.
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Find out what mistakes people often make on their returns, and how to avoid them on yours.
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Despite their popularity, exchange traded funds have some drawbacks that investors should know about.
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The earned income credit is one tax incentive married couples filing a joint tax return can take advantage of. Is it a good idea?
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In order to file as head of household, you must meet several requirements. Find out whether being head of household comes with any tax benefits.
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The amount of your earned income credit (EIC) is dependent upon how big your family is.
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Find out how high your taxes will rise this year.
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Here is a look at how ETFs are taxed and the effects that the tax treatment of ETFs will have on investors when they purchase them.
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Parents should take notice of these important tax breaks in 2013.
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Here is a look at how the Affordable Care Act will affect your taxes in 2013 and beyond.
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Both online tax software and tax professionals have their own set of advantages, but which one is actually better for your bottom line?
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With a new year comes new laws, and in 2013 the U.S. government has implemented several changes to the tax code.
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It is important to make sure that you cover all the bases when you decide to file without the financial expertise of a tax professional.
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The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.
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ETFs often post fewer and lower capital gains distributions than traditional mutual funds, because there is usually a much lower rate of portfolio turnover in ETFs.
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Shifting to qualified investment vehicles and other viable investment strategies could help invstors defer, avoid or minimize the tax hike.
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This article examines the newly-passed Prop 30 and what it means for residents of California.
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Discover the issues that complicate these payouts for investors.
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If you earn a high income, there are many ways you can save extra money for an early retirement.
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If the U.S. goes over the fiscal cliff, how will it affect the taxes and tax planning of average citizens?
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Faced with an overabundance of choices, many investors forget to stick to the basics.
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Here's a look into what you should focus on given that conditions are ripe for a possible "fiscal cliff."
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Find out why money can sometimes be the perfect gift.
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With upcoming changes in tax rates, is your net worth going to be affected?
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Assets on the Fed's balance sheet, money supply level, national debt level and economic production should be maintained in equilibrium.
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Determine whether your business is eligible to claim a tax credit for establishing a retirement plan.
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Here's another reason to put money toward your retirement nest egg.
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Are the non-workers benefiting from the current tax code in any way or is it the wealthy who are still getting the big breaks?
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Accumulating post-tax assets can work to your advantage. Find out how.
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Increases in estate tax rates and possible fiscal cliff implications will make things more difficult when it comes to arrangements for your death.
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If you have a Roth IRA, you are responsible for keeping track of your pretax versus after-tax assets.
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From jury duty to student loan interest, here are some deductions for 2012 that people may overlook.
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IRA assets can't be taxed twice - find out how to avoid paying the second time around.
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Eager to save for retirement? Learn how to avoid overpayment penalties.
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Put your kids through school without being hounded by the tax man.
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Learn how to work with the tax man to avoid getting gouged when you convert your plans.
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The fiscal cliff is all over the news. Find out what it means and how it could affect you.
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Taxpayers with large taxable estates were required to take steps to reduce them before 2011.
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From taxes to unemployment rates, there are many ways the average American could be affected by the possible fiscal cliff.
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Owning a home is much more expensive than renting. Here are the places where the costs differ greatly.
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Sometimes it actually pays to have kids if you are looking for significant tax breaks.
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Homebodies can save big on their tax bill. Learn how to get in on the action.
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Read on to find out what deductions, incentives and other tax laws have changed this year.
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Understanding how property taxes work will ensure that you won't be overcharged.
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If you want to build a better rapport with your clients, this is a good place to start.
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We outline the incentives and help you take full advantage of the benefits.
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As the eastern part of the United States cleans and rebuilds, tax-related issues are sure to arise for the millions affected by the storm.
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You've probably heard that ETFs are better than mutual funds, but you need to consider all aspects before investing.
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With its plethora of inaccuracies, Monopoly doesn't offer the best lessons in real-world finance.
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Learn how the newest tax laws apply to the proceeds you earn.
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Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return.
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There are many things to consider when planning your retirement, including budgets, taxes and long-term care.
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As the presidential election draws near, the candidates have further defined their positions on many issues, including education.
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RESPs and other grants help parents save for post-secondary education for their children.
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The wash sale rule can result in the disallowance of a much-needed deduction. Here you can learn what constitutes a wash sale and how to avoid it.
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Older couples have many things to consider when it comes to financial planning, including wills and estate planning.
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Here are some tips to help single parents raise their kids on a more comfortable budget.
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Studies show that cuts to personal income tax rates will improve tax revenues, but not lead to economic growth.
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Nearly 47% of Americans live at or below the poverty line. Despite safety nets, lower-income people still face challenges.
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Here's how your Dependent Care FSA works and how you can use it to your advantage as a parent with dependents.
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Here are three simple questions you should consider when weighing this decision.
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Find out if you have the traits to be a top entrepreneur.
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The process for filing a Canadian tax return is easy and streamlined. Here is the information you need to know before filing.
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Here are five celebrities who found themselves on the wrong end of a tax audit. Some of these celebrities faced fines, while others did jail time.
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Some items like electronics and automobiles have vastly different prices in different countries. Here's a look at why.
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These commonly overlooked tax breaks and deductions can add up to big savings for entrepreneurs.
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Transferring a house title can be complicated at times. Here are some guidelines to help you get through the process.
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Texas, Florida, Virginia and Utah are considered to be some of the best states to do business in. Find out why.
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Romney's running mate wants to reduce government spending and entitlement programs. What does this mean for the average American?
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Go beyond interest and find out how mortgage points affect your taxable income.
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The most difficult aspect of this complex product is determining how much coverage you need and why.
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Sales tax holidays can offer consumers a lot of savings. Here's what consumers need to know about saving money on sales taxes.
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Trading forex can make for a confusing time organizing your taxes. These simple steps will keep everything straight.
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Find out how America compares to other nations when it comes to factors such as overall tax burden and total number of hours spent on taxes.
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Boost your returns by learning the tax tricks and loopholes for your exchange-traded funds.
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Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
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You can't control what the markets will do in the future, but you do have some control over how much you pay to invest.