Category: Taxes

Reasons to Love Your Mortgage!

When I’m talking to someone, whether it’s a friend or a client, they often tell me that they hate their mortgage. To them, like most people, they feel that having a mortgage payment is a big financial liability and a once-upon-a-time promising investment. Little did they know that having a mortgage is better than none. Here are ways to make the… Read more →

Real Estate Property Taxes in California

Everyone knows about income taxes, sales taxes, and other more common forms of taxes. However, one of the most commonly misunderstood taxes is real estate tax. This article seeks to give an overview of the important California laws affecting real estate taxes. California Proposition 13 The current system of California real estate taxes stems from California Proposition 13, which voters… Read more →

Charitable Tax Deductions

One of the more popular tax-saving strategies for individual income tax returns is donating to charities. DEDUCTIBILITY Charitable contributions can help taxpayers reduce their taxable income (hence reducing their income taxes), but the donation must be paid to a non-profit organization that is recognized by the IRS. Taxpayers will report such donations in Schedule A (Itemized Deductions) of the U.S.… Read more →

What’s Your Tax Filing Status? A Lot Of People Get It Wrong…

There are five different filing statuses for federal taxation purposes, and Head of Household is the most commonly misused one. So what is “Head of Household (HOH)?”. You may have seen this term in several commonly used tax documents such as Form W-4 and Form 1040. Most people think that Head of Household means the leader or the “head” of… Read more →