by Pierre Philantrope | Jun 22, 2022 | Tax Tip
The net investment income tax (NIIT) is a 3.8 percent tax that taxpayers pay in addition to what they pay according to the tax table rates when they own rental property. You pay the NIIT only if your modified adjusted gross income (MAGI) exceeds $200,000 if...
by Pierre Philantrope | Jun 15, 2022 | Uncategorized
The Internal Revenue Service send notices to taxpayers in many situations after they filed a tax return or when they did not file. Unfortunately, many taxpayers ignore the notices to their detriment. Taxpayers must answer to correspondence from the Internal Revenue...
by Pierre Philantrope | Jun 8, 2022 | Tax Tip
US citizens and resident aliens are taxed on their worldwide income. For taxpayers living and working abroad, the return is due on June 15, 2022, unless 4-month extension is requested. Your tax filing obligations follow you wherever you are. The good news: there are...
by Pierre Philantrope | Jun 1, 2022 | Tax Tip
The Internal Revenue Service will send notices to taxpayers in many situations after filing a tax return or when they did not file. Unfortunately, many taxpayers ignore the notices to their detriment. There are millions of taxpayers who have received math errors...
by Pierre Philantrope | May 25, 2022 | Tax Tip
Due to the rising home prices and the crazy real estate market, it is likely difficult for your children to buy a home. It is conceivable that you are ready to downsize and move out of your current home. If that is the case, you could consider the three options below....
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