It’s summer time already that means school vacations, child care and self employed teens. There are 2 summer events parents need to think about. That is childcare for your little ones and what teenagers need to do. These tips will help you manage the summer finances a little easier for you as parents. This article will also explain what teens who earn money from a summer job should do.
In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association of Realtors. If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already made or make you aware of what issues you may face if you are in the “thinking about” stage, this article covers the tax basics and some special situations related to home sales and the home-sale gain exclusion.