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The tax aspects of selling mutual fund shares

  • March 3, 2020
  • Tax

Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules…

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Watch: Marketplace Facilitators and Sales Tax

  • March 4, 2021
  • Tax

More and more businesses rely on marketplace facilitators to put their products in front of customers. But what exactly is a marketplace facilitator? And if they are selling your goods, who's paying the sales tax? Brandon Mills, CPA answers these…

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Bad Debts: What Losses Can You Deduct and When?

  • February 15, 2021
  • Tax

Attempts to claim write-offs for bad debt losses have fueled controversies with the IRS for many years. Unfortunately, bad debt losses are increasingly common during the COVID-19 pandemic. Here's an overview of the federal income tax treatment of these losses.…

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Tax Refund File Folders

5 Valuable Tax Credits for 2020 Individual Returns

  • February 8, 2021
  • Tax

Individuals who are eligible for federal income tax credits can significantly lower their tax obligations. It's important to differentiate between tax credits and tax deductions. A credit usually provides greater tax savings than a deduction, because a credit reduces your tax bill dollar for…

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