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You can sell your primary residence and avoid paying capital gains taxes on the first $250,000 of your profits if your tax-filing status is single, and up to $500,000 if married and filing jointly.
Many first-time buyers don't even know the steps they need to take to begin the process. If you'd like to buy your first home in 2024 but don't know where to start, don't be intimidated. Here's a ...
Buying a home can also be a very complicated undertaking for those who aren't familiar with the process. We talked with two Memphis-area Realtors, and here's what they said you should know before ...
Considering whether to file an extension for the 2010 tax year with Form 4868. An automatic extension until October 15 to file Form 1040 can be obtained by filing Form 4868. There is a penalty for not filing a tax return by April 15 that depends on whether the individual got a filing extension and the amount of unpaid taxes.
The head of household filing status was created in 1951 to acknowledge the additional financial burdens faced by single people caring for dependents. [ 3 ] [ 1 ] Consequently, it provides single parents and other people caring for qualifying dependents with a larger standard deduction and preferential tax rates compared to single filers ...
An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17]
The most important one from a tax-filing perspective is April 15, when your tax return is due every year. Please note that the The IRS has announced that the federal income tax deadline for ...
Hudson River Housing also offers a group education opportunity for first-time homebuyers through their "First Home Club" program, which covers the home buying process. There is a $100 fee to ...
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