Tax Laws

If you are a new landlord who has given out property on rental, you will need to pay additional taxes to the government. The IRS sees the rental you are getting from the property as income on which taxes are charged. To save taxes on rental property, you will need to plan your taxes. To…

Those taxpayers who have decided to rent out their property and not sell it need to pay additional taxes to the IRS. According to the IRS, the profit you make from giving your property on rent is taxable. As you are the landlord, you will need to pay taxes on the property and also on…

Taxes is not something you think about while gambling, but after you have won or lost, you will need to report your earnings or your losses to the IRS. It hurts, but that is what the law says. That raises the question: What activities are included in gambling? According to the IRS “Gambling income includes,…