So your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result.
Grandparents can help with college and lower taxable income.
A grandparent helping their grandchild pay for college can be a win all around. When a grandparent that contributes to a 529 savings plan, it lowers assets within the grandparent’s estate. This helps lowering estate tax.
Reverse Mortgages are usually marketed in an appealing way. This could lead to someone asking how is it possible to pay a mortgage in reverse?
A reverse mortgage (also known as HECM, Home Equity Conversion Mortgage) works much like a regular mortgage but instead of you making a payment each month to the lender, the lender sends you a payment.
Taxes get more complicated for most businesses than they do for individual taxpayers. And not knowing the laws applicable to you is not a justified reason to not comply. Here’s a guide to debunking common myths about business and taxes.