by Borland Benefield Staff | Sep 22, 2022 | Articles for September 2022, Tax Code, Tax Credits, Tax Related
Over the last year, home prices have soared in many parts of the country. In addition to benefitting from an appreciating asset, eligible homeowners enjoy several tax advantages. Here are eight reasons why it’s better to be an owner, rather than a renter, from a...
by Borland Benefield Staff | Aug 25, 2022 | Articles for August 2022, Birmingham Accountants, Tax Credits, Tax Related
Real estate markets are still surging in many parts of the country, especially in some popular travel destinations. If you’re thinking about selling a vacation home that’s increased dramatically in value, you might be rightly concerned about the tax hit....
by Borland Benefield Staff | Aug 8, 2022 | Articles for August 2022, Birmingham Accountants, Tax Code, Tax Related
The IRS recently announced it will increase the standard mileage rate for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas pumps this year. It’s accompanied by a hike in the standard mileage rate for medical...
by Borland Benefield Staff | Jul 8, 2022 | Articles for July 2022, Stock Market, Tax Code, Tax Loss Harvesting, Tax Related
Tax-loss harvesting – purposefully selling certain investments at a loss to offset realized gains on other investments – is a strategy for counteracting high gains taxes. While most investors are aware of tax-loss harvesting, many view it as a task performed at the...
by Borland Benefield Staff | Feb 9, 2022 | Articles for February 2022
If you received an EIP or ACTC payments, make sure you have your Advance Child Tax Credit letter (Letter 6419) and/or Economic Impact Payment letter (Letter 6475) on hand when preparing your returns. The IRS began mailing information letters to ACTC and EIP recipients...
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