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What are exemptions when it comes to taxes?

A tax exemption is the right to exclude all or some income from taxation by federal or states governments. Most taxpayers are entitled to various exemptio...

Aug 21, 2026 • 1 READS

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Does 1031 exchange apply to businesses?

You can perform a 1031 exchange on the company’s real estate and sell the business to a buyer at the same time. You could also sell only the business’s re...

Aug 21, 2026 • 1 READS

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How many days do you have to live in Ohio to be a resident?

Domiciled. If you lived in Ohio for the entire year, you are generally considered a resident — at least for income tax purposes. The Ohio State University...

Aug 21, 2026 • 1 READS

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How do you depreciate a new roof on a residential property?

Improvements are depreciated using the straight-line method, which means that you must deduct the same amount every year over the useful life of the roof....

Aug 21, 2026 • 1 READS

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Do you get penalized for not having healthcare?

Individuals who go without qualifying health coverage for a full year and don’t file for an exemption may owe a tax penalty. The penalty amount is either ...

Aug 21, 2026 • 1 READS

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What is a PTIN fee?

WASHINGTON — The Internal Revenue Service announced today the annual fee for 2021 that tax return preparers must pay to apply for or renew their Preparer ...

Aug 21, 2026 • 0 READS

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Can a nanny file a Schedule C?

You will need to file a yearly 1040 tax return and pay federal income tax. In addition, you will file a Schedule C form, which will calculate your net inc...

Aug 21, 2026 • 1 READS

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Can you deduct health insurance premiums in 2018?

No, you can only deduct eligible medical expenses and health insurance costs that exceed a certain level of your adjusted gross income (AGI). People think...

Aug 21, 2026 • 1 READS

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Is mortgage interest received tax deductible?

Taxpayers can deduct the interest paid on first and second mortgages up to $1,000,000 in mortgage debt (the limit is $500,000 if married and filing separa...

Aug 21, 2026 • 1 READS

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What is a benefit of working in small publishing companies?

Small presses run the production and distribution processes for you. One big benefit of working with a publisher is that they handle the editors, proofrea...

Aug 21, 2026 • 1 READS