Tax Preparation 2024: What You NEED to Know 

There are many important updates that you should consider before you file taxes this year. Many of these developments may allow you to lower your tax bill. One particularly exciting development is the Energy Efficient Home Improvement Credit, which gives you energy credits for making energy-efficient upgrades to your home. Other significant tax changes include […]

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Your Guide to the Energy Efficient Home Improvement Credit

In August 2022, the Inflation Reduction Act was signed into law. Along with boosting domestic energy production, this law provides tax credits to homeowners who take steps to improve efficiency. The Energy Efficient Home Improvement Credit helps homeowners reduce their taxes by making specific home improvements, buying the right equipment, and obtaining audits. This guide […]

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UGMA vs UTMA: Which is the Best for College Savings?

Many parents may want to get an early start on securing their child’s educational and financial future. The Uniform Gift to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) are both excellent options to consider. These accounts are very flexible and beneficial for your child’s future. You can choose the types of investments […]

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Can an Airbnb Sublet Be Profitable?

If you have ever thought of getting into real estate investing but did not think this was possible as a renter, an Airbnb sublet might be your answer. To take advantage of this lucrative opportunity, you have to have a willing landlord and a city that is friendly to the idea. You only need an […]

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How to Become an Airbnb Superhost

According to AirDNA, Airbnb Superhosts earn 60% more revenue than the average rental operator on the platform. With numbers like that, it’s no surprise that many hosts are eager to achieve Superhost status, but where do you start and is it worth the effort? Here’s what you need to know about becoming an Airbnb Superhost  […]

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The Top-6 Short-Term Rental Tax Benefits

When you use your home as a short-term rental property, there are many tax breaks you can benefit from. These deductions and incentives allow you to effectively reduce your costs and build income. In this helpful guide, you’ll learn about six of the most useful short-term rental tax benefits available to you. Short-Term Rentals & […]

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Corporate Transparency Act FinCen Reporting Requirements for 2024

It is crucial for small businesses to be aware of the new reporting requirements of the Corporate Transparency Act (CTA). The CTA requires small businesses to report certain information about ownership to the Financial Crimes Enforcement Network (FinCEN). The application officially opened at the beginning of January this year. Businesses will have until January 1, […]

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Tax Implications of Renting Your Primary Residence

The cost of homeownership is rising, but many homeowners are offsetting the increasing costs by renting parts of the home. Renting your home is a great way to earn extra money from your most valuable asset, but you should consider the tax implications of renting your primary residence before you open for business. Sharing Your […]

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Watch Out for These Airbnb Scams by Guests

In the realm of short-term rentals, Airbnb hosts must be vigilant about scams. We put together this helpful guide to Airbnb scams by guests to equip you with the knowledge and strategies you need to protect yourself from the most common scammer tactics. Introduction to Airbnb Scams Being an Airbnb host comes with numerous advantages, […]

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What is a Qualified Personal Residence Trust

In estate planning, one effective way to minimize taxes is through a Qualified Personal Residence Trust (QPRT). This trust offers a chance to reduce the taxes owed on your home, making it a valuable tool in tax-saving strategies for your estate plan. What is a Qualified Personal Residence Trust [QPRT]? A Qualified Personal Residence Trust […]

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