Morgan Stanley predicts that house prices could fall by 10 percent by the end of 2024, perhaps twice as much in a worst-case scenario. Homeowners who purchased their homes at the top of the market could be in trouble, especially if the U.S. falls into a...
Self-employment taxes are the same as payroll taxes for the self-employed and it is used fund Social Security and Medicare. All individuals with self-employment income must pay self-employment taxes, regardless of their age. The self-employment tax is paid on your net...
The IRS really interested about your bitcoins and other crypto. You may have not noticed this, but it starts at the top of the first page of your Form 1040, where you find the following question right after the spaces for your name and address: At any time during...
If you own or have an interest in any foreign bank account or other types of financial accounts (see below for examples of the other types) that are based outside of the United States, you may have to fill out the Report of Foreign Bank and Financial Accounts (FinCEN...
Commissioner Chuck Rettig announced the IRS People First Initiative to provide immediate relief to help people facing uncertainty over taxes during the health crisis. Highlights of the key actions in the IRS People First Initiative include: Installment Agreements...
Yesterday evening, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. This bill is intended to be a third round of federal government support in the wake of the coronavirus public health crisis and associated...
Florida businesses often hold real property and their business operations in separate entities for liability purposes. While this is a very standard and effective way to mitigate the liability risk of owning commercial real estate, these types of structures need to be...
The Florida legislature voted to again reduce the sales tax, which is imposed under section 212.031, Florida Statutes, that commercial real estate owners charge and receive from tenants to 5.5 percent in 2020 from its current rate of 5.7 percent. Real property rentals...
We are all familiar with the annual tax filing ritual; around January, most people collect their tax documents to file their tax returns by the deadline. However, some people sometimes or always need an extension. All of the information is gathered after the tax...