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Gambling Winnings & Losses Can Affect Your Tax Bill

From time to time, some of you are lucky enough to win a shilling or two at your local casino, the track, or the state lottery. How will that gambling income impact your taxes? All gambling winnings...

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Tax Tip Tuesday: Foreclosure May Require More Tax Forms

If you went through a foreclosure or had home mortgage debt forgiven last year, you might have income to report on your federal tax return — and you might see forms that are new to you. Forms from the...

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Tax Tip Tuesday! Active Participation Matters In Rental Real Estate

How active are you? Staying active is good for your health — and for reducing your tax bill. Here’s how: Actively participating in your real estate rentals can help maximize your deductions. As you may...

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Tax Tip Tuesday! Debt Or Equity? What's The Tax Difference?

Here’s a capital idea: Make sure your C corporation is properly capitalized. In addition to legal issues, the amount you have invested in your company can play a role in determining how future loans...

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