There are many factors that can cause an unfavorable tax swing leaving you with a surprising tax bill in the spring. Here are six warning signs that you might have some unexpected taxes waiting for you.
For the first time since 2013, the IRS is raising the contributions limits for IRAs. The maximum contribution for 401(k) accounts and IRAs is increasing by $500 for 2019. If you have not already done so, now is the time to plan for contributions into your retirement accounts in 2019. Check out the tables below for the new contribution limits and Social Security increases: Retirement Contribution Limits Retirement Program 2019 2018 Change Age 50 or older
As 2018 winds down, there is still time to reduce your potential tax obligation. Here are some ideas to make your 2018 tax return less of a burden on your wallet:
It’s one of the facts of community living: Where you have neighbors, you can have problems. There are some things you can do about annoying neighbors and some things that could land you in legal trouble. Start by talking to your neighbor. Share what’s bothering you. Keep your composure and try to approach the conversation from a place of kindness and curiosity. You could even help rectify the situation if you’re willing. For example, if you’re
Blockchain and cryptocurrencies are evolving technologies that could transform the financial industry and, by extension, the real estate industry. Only time will tell how significant the impact will be. But as you’re probably hearing these terms more and more in the media, it’s a good idea to get an understanding of the basics. Technology fundamentals A cryptocurrency, such as bitcoin or ethereum, is a digital currency exchanged over the internet. These currencies provide a secure way
Smart lock technology is changing the way realtors show your home. These Wi-Fi or Bluetooth enabled locks allow users to lock and unlock their door remotely, using a mobile app. As a homeowner, you can use a smart lock system to manage guest access, giving people digital power to unlock your door for a single entry or an extended period of time. Similar technology has been designed for the real estate industry. The Prempoint mobile app
iBuyers are investors who use technology to make a fast offer on your home, sight unseen, based on a proprietary valuation model. iBuyers, such as OfferPad, Opendoor, and Zillow Instant Offers, provide an alternate sales model for people who want to sell their home fast, sometimes in as little as three days. How it works iBuyers operate in select major markets. Sellers request a home offer, and then these investors use public information, seller-supplied information, and
Keep your bird in the hand while continuing to search for others in the bush. That’s what you get with a bump clause. In home sales, a bump or “kick out” clause lets sellers enter into a contract while continuing to seek out alternate buyers. If the sellers get a better deal, they can bypass the original buyer. Typically, bump clauses are used when the buyer has a home-sale contingency. Buyers sign a contract and submit
The IRS continues to focus their audit activities in key small business areas. The wise business owner is well advised to be able to defend the following five areas to keep the IRS at a comfortable distance: Business or hobby? Be ready to provide proof your business is truly a business and not a hobby. Those who fail in the eyes of the IRS can have their expense deductions severely limited, while still required to report
Smartphones and other technological advances enable banks to create products and services that dramatically change the way you bank. Here is a primer on three of the biggest banking trends and tips to protect your money: The traditional bank branch is going away. A recent report from consultants McKinsey & Company claims an average of three bank branches are closing every day. Many of the branches that remain open are either closing their lobby or drive-through
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