Friday September 20, 2019
News
Married Couples and Property
Mary was a surviving spouse. She and her first spouse, Ryan owned a lovely home and placed it into joint tenancy with right of survivorship. After Ryan
passed away, Mary met Logan and they were married. Because she previously had owned the house in joint tenancy, Mary changed the title to joint tenancy with
right of survivorship, with Logan as the other joint tenant.
Unfortunately, Mary passed away two years later. Her will gave all of her property to the children of her first marriage. However, her children,...MORE
Making Correct Quarterly Estimated Tax Payments
In IR-2019-152, the Service reminded certain taxpayers the third quarter estimated tax payment is due on September 16, 2019. The fourth quarter's estimated tax payment for tax year 2019 will be due on January 15, 2020.
Most investors, self-employed individuals and workers in the sharing economy do not have wage withholding, but instead must make quarterly estimated tax payments. The IRS explained, "The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, fundamentally changed the way tax is calculated for most taxpayers, including those with income not subject to withholding."
Most of these individuals have interest, dividends, capital gains, rental income or other types of taxable income. If you...MORE
Home Sharing Programs Can Help Homeowners Find Renters
Can you share information about renting out part of my home? I am 76-years-old and interested in renting out a spare room for extra cash and for some help around the house.
Renting out a spare room...MORE
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