Mom-and-Pop Landlord Rule
If you own rental property, the IRS lets you use up to $25,000 in rental losses each year to offset […]
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Terminology
What is Qualified Business Income?
The Qualified Business Income (QBI) deduction is a special tax break for people who make money from their own business,
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Section 179 Explained
As a business owner, Section 179 is a valuable tax tool that lets you deduct the full purchase price of
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What is MAGI and How to Calculate It?
Modified Adjusted Gross Income (MAGI) is used to determine eligibility for numerous tax benefits, including the Child Tax Credit, education
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What is a 529 Plan?
A 529 plan is a tax‑favored savings program offered by states and some educational institutions to encourage families to save
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Who is a Qualifying Relative?
If a person does not meet the qualifying child tests, they may still qualify as a dependent relative. The requirements
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Who is a Qualifying Child?
To claim a child as a dependent for tax credits or deductions, five tests generally apply: • Relationship: The child
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What is CA Proposition 19?
Proposition 19 (2020) – Helping Older Homeowners Proposition 19 is a 2020 law that gives older homeowners new property tax
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What is CA Proposition 13?
Proposition 13 (1978) – Keeping Property Taxes Stable Proposition 13 is a California law passed in 1978 to stop property
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Who Still Qualifies for Social Security Benefits After OBBBA?
The One Big Beautiful Bill Act (OBBBA) did not strip away anyone’s Social Security retirement or disability benefits. Those remain
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