High-income folks are painfully aware that many valuable tax breaks are phased-out (reduced or eliminated) as income climbs up the ladder.
Q. Last year, my son and daughter-in-law tried to purchase a house, but their loan application was not approved. I then took out an equity loan on my house and in August I bought the house they wanted. They now live there and pay all the taxes, plus reimburse me for the mortgage payment. I am wondering how this works with my taxes, as I make no profit at all on this. Can I claim either the interest on the loan or the taxes paid?
One Tax Deadline You’re Forgetting – The Motley Fool
If you turned 70-1/2 years old in 2013, you have a critical tax deadline coming up. April 1 is the deadline for people who turned 70-1/2 to take their first annual required minimum distribution from their Traditional IRAs and 401(k)s. Typically you're supposed to take it by Dec. 31 of the year you turn 70-1/2, but the deadline is extended to April 1 for the first year.
The 2 Biggest Pay Mistakes You’re Making—And How to Avoid Them – Inc
You have your great idea, business plan and some seed capital from friends and family; now you are ready to build out your team. At this critical stage, often over-looked are the various rules governing the employment relationship, especially around compensation. This oversight then comes back to haunt you when potential investors are kicking the proverbial tires during your first major capital raise and they want your company to make representations and warranties regarding the company’s compliance with various compensation and employment laws.
It's been several decades since women needed the permission of a father or husband to get a mortgage, or she went to college just to get her MRS degree. These days, women are getting married later in life, if at all, and they’re developing strategies to make the most of their finances.