The sale of rental property may trigger capital gains tax or may generate a loss. Your taxable gain or loss is determined by subtracting the property’s adjusted basis on the date of sale from the net sales price. The net sales price is your sales price less commissions, closing costs, and fix-up expenses. Your adjusted...Read More

You can successfully deal with many  IRS notices yourself.  Many require only a simple response, such as sending the IRS additional information or paying taxes on Form 1099 income you forgot to include on your tax return. The following tips apply whenever you deal with an IRS employee in his or her official capacity. Read...Read More