If you’re considering setting up a passive income stream for yourself, then you’re likely aware that taxes can play a large role in how much money you make. But why is this the case? And how exactly do taxes work with passive income?
This guide will provide an overview of the basics of taxation when it comes to passive income.
What Counts As Passive Income?
Passive income refers to any money made from investments or activities that require minimal effort on your part.…
Most Americans would agree that a big refund is a good thing. And if you can’t get that big, fat refund check, the lowest tax bill is the next best thing. But is this always true? Are there reasons why you may not want to pay the lowest tax possible in the current year? It may sound strange, but it could be the case. Here are a few reasons why. …
Taxes can be complicated. Things become even more complicated when you are dealing with a partnership in which people have different priorities and goals.
The Drop and Swap 1031 process can also be a mystery. If you find yourself in a position where this term has been brought up, these are some of the facts you need to know.
First, What Exactly Is a Drop and Swap 1031?
A Drop and Swap 1031 is a tax-deferred exchange in which the partnership transfers its ownership interest in one property to another.…
