Standard Deduction: How Much It Is in 2022-2023 and When to Take It
The 2022 standard deduction is $12,950 for single filers, $25,900 for joint filers or $19,400 for heads of household. Those
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Always get a Copy of Your Depreciation Schedule from your tax preparer.
Depreciation is the process of spreading the deduction of certain items you purchased for your business (or your rental properties)
Continue readingIf your sole proprietorship business has no profit or loss during the full year, it’s not necessary to file a Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship) for that year.
If your sole proprietorship business has no profit or loss during the full year, it’s not necessary to file a Schedule
Continue readingHow a Secretary Made and Gave Away $7 Million
She had a simple life, lived in a tiny one-bedroom cottage in Lake Forest, Ill.She bought her clothes at rummage
Continue readingOct 17 is the extended tax deadline for those who filed Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return).
Filing Form 4868 gives you until October 15 to file a return. If October 15 falls on a Saturday, Sunday,
Continue readingIt often pays to switch jobs, and now is one of the best times to do it.
Taking a new job is often the easiest way to get a raise because negotiating a higher salary is a
Continue readingGood investing is boring. It involves buying solid, diversified assets that you can hold onto for a long time, if not for life. If you want to uncomplicate investing, start with three fund portfolio.
The idea is that you can have a low-risk, low-fee, and well-performing portfolio with only three funds: A domestic stock
Continue readingU.S. existing home sales slide again, but home prices in America hit an all-time high.
The median price was $416,000 in June, up 13.4% the same month last year. U.S. existing home sales fell for
Continue readingCostco’s hot dog and drink combo, which retails for $1.50, hasn’t gone up in price since the 1985.
Costco Wholesale Corp. is eating the higher costs of its popular $1.50 hot dog and soda combo so customers don’t
Continue readingThe rule of 55 is an IRS guideline that allows you to avoid paying the 10% early withdrawal penalty on 401(k) and 403(b) retirement accounts if you leave your job during or after the calendar year you turn 55.
Employer-sponsored, tax-deferred retirement plans like 401(k)s and 403(b)s have rules about when you can access your funds. As a general
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