Taxes & Your Savings

With sports betting on the ballot this past midterm election, many wonder if sin taxes are healthy for the economy. These taxes have been levied both at the federal and state levels. Here are some examples of sin taxes and what they mean for the economy.  What is a sin tax?  A sin tax is […]

Real estate investments and tax implications can be very complex. However, there are general tax implications for common scenarios. Here, we will discuss some of these benefits.  Real Estate Tax Write-Offs  The most obvious tax implication for real estate investments are the write-offs that can help reduce rental income. Typically, you can deduct any expense […]

Renting out your property as an Airbnb can be a good way to secure residual income. While Airbnb may send you a tax form at the end of the year. It’s important to understand your tax responsibilities to check for errors and in the event you aren’t issued a form. Reporting Airbnb or Vacation Rental […]

The world of investments can be intimidating, especially for young adults and college students. However, it is known that one of the best ways to build long-term wealth is to start investing early. Doing will allow your money to compound interest for a longer period of time. More than anything, knowing investment tips will help […]

There is no shame in needing professional help during tax season. In fact, if you’re able to afford tax assistance or find community resources, you’ll have a better likelihood of accurate returns. Getting your return completed correctly the first time means fewer delays and getting your refund faster. Choosing the wrong tax professional, however, could […]

While taxes are inevitable, you want to make sure that you’re not paying more than you have to. You can legally reduce your taxes by using strategies that you may not be aware of. Here are some tax reduction strategies from Optima Tax Relief. Retirement Contribution A simple way to reduce your taxes is by […]