The Mortgage

Everyone general knows that there is one major tax deduction that every homeowner wants to claim on a personal tax return, it is the home mortgage interest. In fact, it is the second biggest federal tax expenditure, projected to be…

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Taxing a business

Well, as the New Year approaches, one may decide to go into business for himself/herself, and as discussed before, there are the three major types of formations of a business, the sole proprietorship, the partnership, and the corporation. What was…

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Having a job abroad

Going with a theme from the last few blogs, about foreign disclosures and earning/receiving foreign income sources, another question that concerns US citizens (and resident aliens) what if such a persons has a job aboard? Remember, any US citizen (or…

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Another tax year

Another tax season year has passed, since October 15, 2014, and still a person’s tax return has not been filed (Gulp!). So what are the ramifications for filing late? Generally speaking there are penalties, as well as interest, on any…

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