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Getty Images The enhanced child tax credit has sent monthly checks to millions of American families since July. Now, it’s one of the programs on the chopping block as Democrats slim down President Joe Biden’s Build Back Better agenda. Lawmakers are proposing to extend the benefit for only one year. Previously, the Biden Administration proposed
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Buying an investment property is a great way to earn extra income and build long-term wealth. However, there are many considerations that go into buying your first investment property, especially in the current real estate market. Because investment properties can be a risky endeavor, it’s important to consider all of your options and educate yourself
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Responding to a growing controversy over investing practices, the Federal Reserve on Thursday announced a wide-ranging ban on officials owning individual stocks and bonds and limits on other activities as well. The ban includes top policymakers such as those who sit on the Federal Open Market Committee, along with senior staff. Future investments will have
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Since 1998, the IRS has been prohibited from assessing penalties against a taxpayer unless the initial determination that the penalties should be assessed was personally approved, in writing, by the examiner’s immediate supervisor. The rule requiring written supervisory approval, 26 U.S.C. § 6751(b), was largely ignored by the IRS and the tax practitioner community until
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Founder and CEO of Rentec Direct, property management software for real estate professionals. No industry has escaped the global pandemic completely unscathed, but the real estate industry has been regularly making headlines for happenings like skyrocketing home prices and extended eviction moratoriums. It seems the entire country is eager to return to normal, but what does
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It’s hard to abandon longstanding rules of thumb. But sometimes circumstances change, and it’s necessary to change our thinking if we want to maximize after-tax wealth. Perhaps the oldest rule in the tax-planning book is to defer taxes whenever possible. “Don’t pay a tax until you have to” is one of the first planning strategies
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