by Logan Creek Creative | Mar 21, 2022 | TAX TIPS
New tax rules are creating confusion Home-related tax rules changing over the past few years have caught some taxpayers by surprise. When your mortgage company reports tax-related information to you and the IRS using Form 1098, it no longer means all the interest and...
by Logan Creek Creative | Mar 14, 2022 | TAX TIPS
If you sell your principal residence for a profit, how is that profit taxed? A lot of folks think the gain is subject to tax, no matter what. Some think as long as you reinvest the sale proceeds the gain is “deferred”. Some even think you can only “defer” the gain...
by Logan Creek Creative | Mar 7, 2022 | TAX TIPS
Let’s face it, we’re living in a digital world now, and most anything you’re looking for can be found online, including a lot of records you would normally keep with your tax returns. I know there are some of you out there that have every piece of paper you’ve used to...
by Logan Creek Creative | Feb 28, 2022 | TAX TIPS
Many taxpayers are in a situation where they share custody of one or more children with the child’s other parent. While tax law changed in 2018 and eliminated a deduction for dependents, there are still child tax credits and other tax benefits that are only allowed if...
by Logan Creek Creative | Feb 25, 2022 | TAX TIPS
Make Your Child a Tax-Free Millionaire! Want to jump start your child’s retirement with a million dollar tax-free account? Consider this: The million dollar idea As soon as your child begins to earn income, open a Roth IRA and set a contribution goal to reach...
