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Can both parents claim mortgage interest?

Yes, if you’re a legal owner of the home and pay the entire mortgage, you can claim the full amount of mortgage interest and taxes [if you paid] and if yo...

Jul 15, 2026 • 1 READS

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Where is the best place to live in North Carolina?

Here’s the complete list of the North Carolina cities ranked in the U.S. News top cities to live along with their national ranking: Raleigh and Durham (No...

Jul 15, 2026 • 1 READS

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Do you get a tax break for owning a home?

The main tax benefit of owning a house is that the imputed rental income homeowners receive is not taxed. It is a form of income that is not taxed. Homeow...

Jul 15, 2026 • 1 READS

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Can an S corp merge with an LLC?

Merger into LLC Process Corporate directors can also choose to merge their corporation into an LLC. The directors and shareholders can then approve a merg...

Jul 15, 2026 • 1 READS

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What is the taxable rate for Social Security?

NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applica...

Jul 15, 2026 • 1 READS

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Do I need to report 1099-LTC?

We are required to report to the Internal Revenue Service on Form 1099-LTC the gross amount of long-term care benefits issued under your insurance contrac...

Jul 15, 2026 • 1 READS

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What does it mean when a stock is lowered to sold?

downgrade A stock downgrade occurs when an analyst moves from buy to hold or from hold to sell, indicating that they’ve cooled on a stock’s chances of pro...

Jul 14, 2026 • 1 READS

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Do attorneys need to fill out a W9?

Payments to corporations as vendors generally do not require a W-9 form with the exception of attorneys and law firms. There are many various 1099 forms f...

Jul 14, 2026 • 1 READS

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How do I report an IRA distribution on tax return?

Report the total amount of the traditional IRA distribution as the taxable amount of your IRA distribution unless you made nondeductible contributions. On...

Jul 14, 2026 • 1 READS

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When to file a 1099 C for deceased husband?

Do not report this 1099-C on your return. It was your deceased husband’s debt, not yours, and there is no requirement for your to report it on your return...

Jul 14, 2026 • 0 READS