Child Tax Credit

If you raise one or more children, you likely understand just how expensive it can be to do so. It’s estimated that the total cost of raising a child to the age of 18 is right around $267,000. You can effectively reduce these costs by claiming the Child Tax Credit, which is designed to lower…

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Section 179 Depreciation

When you own a business, there are a wide range of tax deductions and exemptions that you may be able to qualify for. One type of deduction that may be available to you involves Section 179 depreciation, which applies specifically to depreciable assets. Knowing what this tax deduction is may help you reduce the amount…

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Social Security Retirement Benefits

There was a time when Americans were only able to receive retirement pensions from the Social Security Administration when they celebrated their 65th birthday; this was when the Social Security Act was passed by the United States Congress and implemented by the first administration of President Franklin Delano Roosevelt in 1935. It took about five…

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Online Sales Taxes

After two years of social distancing and other public health measures that considerably limited brick-and-mortar retail operations, many American shoppers are happily returning to their favorite physical stores. While this is a welcoming development, retail industry analysts do not foresee a strong shift from online shopping to brick-and-mortar; if anything, they believe that the e-commerce…

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Economic Injury Disaster Loan

No matter how much planning we do, disasters will occur. Both the COVID-19 pandemic and a recent uptick in natural disasters have affected many different components of our lives—including the viability of some small businesses. Across the country, there are countless small businesses that were once thriving and are now in need of financial assistance.…

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Understanding The 1031 Exchange

If you have owned an investment property and have thought about selling it off, then you know you need proper knowledge on 1031 tax-deferred exchange. 1031 tax-deferred exchange allows a property owner to sell their property and buy a like-kind property, as a replacement, while deferring capital gains tax. This article aims to articulate the…

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