Category: Direct Tax

Owning rental property can be a lucrative investment, not only because of rental income but also due to valuable tax deductions available to landlords. Among the most common questions posed by rental property owners are: Can I deduct home repairs?...

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Each year, millions of vehicle owners pay car registration fees to their state’s Department of Motor Vehicles (DMV). These fees are required to legally operate your vehicle, but when tax season rolls around, you might wonder: Can I deduct my...

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Tax season can be stressful, and it’s easy to make a mistake when filing your return—especially with the complexity of the U.S. tax code. From misreporting income to forgetting a deduction or transposing digits in your Social Security number, these...

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For many taxpayers, homeownership brings several tax breaks, such as mortgage interest deductions and property tax write-offs. But what about renters? While the federal tax system offers limited benefits to renters, several U.S. states do offer credits or deductions that...

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Taxpayers today have more options than ever for receiving their federal or state tax refunds. One increasingly popular method is receiving your refund on a prepaid debit card. Whether issued by the IRS, a tax preparation company, or through your...

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Investing in the stock market or other securities always comes with risk. Some years you make gains, and in others, you may incur losses. But what happens when your investments lose money? Can you still get a tax refund? The...

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Filing a tax return without a Form W-2 might seem impossible at first, especially for individuals who are accustomed to receiving one from their employer. However, the reality is that many taxpayers—freelancers, self-employed professionals, gig workers, and even employees with...

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One of the most common questions among married U.S. taxpayers with foreign spouses is whether they can file a joint tax return. The short answer is: yes, in many cases, you can file a joint return even if your spouse...

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Claiming a dependent on your tax return can lead to valuable tax benefits, such as access to certain credits and the possibility of filing as Head of Household. But what if the person you support isn't your child or relative...

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Many taxpayers assume that dependents must be minor children. However, the IRS rules allow you to claim other family members as dependents—including adult children and aging parents—if specific conditions are met. Claiming a dependent can result in significant tax savings,...

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