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Capital Gains Tax: What You’ll Owe When You Sell A House in Columbus
Central Ohio has been one of the country’s fastest-appreciating markets, so more Columbus sellers are bumping into capital gains than ever. The good news is that most people selling their primary home still owe far less than they fear. Here is what to know about taxes when selling a house in Ohio before you list, […]
Capital Gains Tax: What You’ll Owe When You Sell A House in Witchita
Wichita’s affordability has made it a strong market for both move-up buyers and investors, which means more people are selling a home or a rental and wondering what the tax bill looks like. The reassuring news is that most primary-home sellers owe little or nothing. Here is how the math works on taxes when selling […]
Capital Gains Tax: What You’ll Owe When You Sell A House in Denver
Denver’s long run-up in home values is great news right up until tax season, when a big gain can turn into a surprising bill. The good news is that most people selling their primary home owe far less than they fear, and many owe nothing at all. Here is what sellers and investors along the […]
I Owe Both Federal and State Taxes. Who Do I Pay First?
You filed your taxes, and now you’re staring at two separate balances — one to the IRS and one to your state — and wondering where to even start. This is more common than people think, and the answer isn’t obvious. The IRS and your state tax agency are two completely separate systems. They don’t […]
Is There a Cap on IRS Penalties and Interest for Back Taxes
You owe back taxes and you’re wondering if there’s a ceiling, or some point where the IRS stops adding to your bill and the damage stops growing. The answer is different depending on what you’re asking about. Penalties have a cap. Interest does not. Those two facts have very different implications for what your balance […]
Back Taxes Interest: How IRS Penalties, State Rates, and Daily Compounding Add Up
If you owe back taxes and you’re waiting until you “figure out the money,” you’re not hitting pause on your balance. You’re watching it grow. Every single day. How much can back taxes cost over time? Back taxes can grow through IRS interest, failure-to-pay penalties, failure-to-file penalties, and state-level interest charges. IRS interest compounds daily […]
Are Tax Refunds Getting Bigger This Year? Here’s the Real Answer.
You’ve probably heard the headlines. The White House called this the largest tax refund season in U.S. history and projected the average refund would rise by $1,000 or more. So if your refund felt underwhelming, you’re not imagining it. The truth is more complicated than the headlines. Yes, refunds are technically up, but for most […]
Stop Mixing Business and Personal Expenses
Watch Dave, one of Boxelder’s tax experts, break down why separating business and personal expenses is one of the most important habits a small business owner or freelancer can build, and what happens when you don’t. If you have ever paid for something on your personal card and thought “I’ll sort it out later,” this […]