Divorce is ubiquitous. It’s basically an American institution at this point and really a cousin of marriage. In fact, it appears to be so common that the presence of divorce seems to be a factor in the decline of marriage rates, amongst other sociological phenomenon, but enough of my moralizing. The point is divorce has [...]
“Adjustments to income” sounds like you go to the tax shop and they adjust your income, so it gives you a smoother ride through life. In reality, these are amounts that subtract from your income before you take your standard or itemized deduction. They are therefore “above the line” deductions, and are seen in a [...]
There are always a lot of questions when it comes to people’s primary residences. These inquiries generally pertain to capital gains and losses along with deductibility of certain expenses. With the insane increase in the value of homes in the United States over the last thirty years, this issue makes sense to those who have [...]
(For a discussion of the basis and adjusted basis of assets, see here.) The sale of property is generally the first thought I have when I think of the term “taxable event.” There are exceptions but, if an event renders the disposal of an asset taxable, and that disposal was voluntary, then a sale has [...]
(For the articles on wages, salaries, and tips; interest; dividends and other distributions; or other income click here, here, here, or here respectively.) This article deals with the ins and outs of rental income. For our purposes, rental income is derived from the leasing of real property on a short or long term basis. The aggregate of [...]
(For the articles on wages, salaries, and tips; interest; rental income and expenses; or other income click here, here, here, or here respectively.) An advantageous way to retire is to live on dividends. This would mean that you have invested your money so wisely over the course of your working life that you get paid [...]
Recent Comments