Hobbies keep balance in our life. It is an activity that we love and enjoy that help us relieve the stress of our day-to-day lives or a diversion to keep us sane. Although most hobbies are done just for leisure such as listening to music, playing sports, playing video games, reading books, traveling, or what have you, there are hobbies that can generate a little income on the … [Read more...] about How to Report Hobby Income and Expenses on Your Tax Return
Taxable Income
10 Income Subject To Tax That You May Not Be Aware Of
According to the IRS, you must report your worldwide income on your tax return. Income is not just about the salary that you received. It would also include a lot of items such as gains on the property you sold and net income from your business or rental properties. The good news is that you don't usually pay taxes on the gross income, the IRS provides various deductions to … [Read more...] about 10 Income Subject To Tax That You May Not Be Aware Of
Tax Break For Homeowners Selling Their House
Homeownership is still considered as one of the American dream as most of us really wants to have a piece of America. Aside for the emotional benefit of homeownership, it has a built in various financial benefits that you can never achieve if you are just renting. One of the most common financial benefit are the tax breaks that the government provide such as being able to … [Read more...] about Tax Break For Homeowners Selling Their House
March Madness: How the NCAA Helps You Get Away With Watching Games At Work
March Madness is probably the next big thing after the Super Bowl event. Advertisers are probably paying an arm and a leg just to get spots in this 3-week event. The games are available in multiple TV stations now such as the CBS, TNT, TBS, and TRU. This tells you how a lot of these stations are lining up to get a piece of this big revenue stream. Super Bowl and March Madness … [Read more...] about March Madness: How the NCAA Helps You Get Away With Watching Games At Work
Individual Retirement Accounts (IRA): A Quick Overview
Nowadays, majority of the companies offer a retirement plan and the most common type is the 401(k). However, if your employer does not offer one, you can still save for retirement and enjoy the tax-deferment features by opening an Individual Retirement Arrangement or IRA. In the past, not many employer offer a retirement plan at work so the IRA has been a viable option by … [Read more...] about Individual Retirement Accounts (IRA): A Quick Overview