- What Are the Tax Advantages of Home Ownership?
- Housing is a big expense for everyone. The choice generally involves either renting or purchasing - and financing that purchase with a home loan. As of November 2020, the nationwide average for a 30-year fixed-rate mortgage was just under 3%, the lowest it has been in the last 50 years or even longer. Many individuals are taking advantage of the historically low rates to buy their first home, sell their existing home to move up to a more expensive one, or refinance their existing mortgage. Some who currently own their homes free and clear are even taking out loans to lock in the low interest rates. This article looks at the tax benefits and drawbacks of buying, financing, and owning a home.
- Finally, The COVID Relief Package Is Law
- After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters, as 2020 was coming to an end, horses were traded, and deals were made so that Congress could put together the much-needed legislation. The result is a nearly 5,600-page omnibus bill, the Consolidated Appropriations Act, 2021, Included in that legislation are the “COVID-Related Tax Relief Act of 2020” (COVIDTRA) and the “Taxpayer Certainty and Disaster Tax Relief Act of 2020”. The bill was signed by the President on December 27.
- How to Address Rising Tax Problems During COVID-19
- This year might be the year that you need to bring in a tax professional to help address some of the tax challenges that COVID-19 has caused.
- How to Create Recurring Transactions in QuickBooks Online
- QuickBooks Online saves time and improves accounting accuracy in numerous ways. One example is its support for recurring transactions.
- Video: COVID Tax Relief Act Is Coming
- The new COVID Tax Relief Act was passed by Congress and is waiting to be signed by the President. Watch this video for a summary of what to expect.
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