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Tax Issues That Arise When Converting a Home into a Rental
With the current substantial appreciation in home values and demand for housing exceeding the available inventory, along with low home...
The Garabedian Group, Inc.
Jul 27, 20225 min read
3 Reasons Paying Your Bills Early Will Benefit You
If there’s anything we all learned from 2020, it’s that things can change in a heartbeat and that the unexpected can create real havoc....
The Garabedian Group, Inc.
Jul 20, 20224 min read
How to Create a Financially Balanced Budget You Can Live By
Not having positive money management habits can severely impact your current finances and future well-being. Creating and sticking to...
The Garabedian Group, Inc.
Jul 15, 20223 min read
12 Financial Metrics Small Business Owners Should Track
Operating a small business is an exhilarating and, at times, overwhelming endeavor. There are so many details to keep track of that it’s...
The Garabedian Group, Inc.
Jul 13, 20225 min read
Planning for a Child’s College Expenses Should Start Early
Some in Congress have proposed “free” (i.e., government-paid) tuition for community college attendance. Even if that proposal were to...
The Garabedian Group, Inc.
Jul 6, 20226 min read
Don’t Lose Your Passport Because of Unpaid Federal Debt
The IRS has begun issuing notice CP508C to taxpayers with “seriously delinquent” tax debt, and the service has resumed its program of...
The Garabedian Group, Inc.
Jun 30, 20223 min read
Tax Treatment of a Room Rental
With the shortage of affordable housing these days, many homeowners are renting out rooms in their homes, providing themselves with some...
The Garabedian Group, Inc.
Jun 24, 20222 min read
You Should Be Keeping Home Improvement Records
Individuals who meet the 2-out-of-5-year use and ownership tests can exclude up to $250,000 ($500,000 if both filer and spouse qualify)...
The Garabedian Group, Inc.
Jun 23, 20222 min read
With a Possible Recession looming, Here's How to Fortify Your Business
If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial. If...
The Garabedian Group, Inc.
Jun 22, 20223 min read
Vacation Home Rentals: How the Income Is Taxed
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, and with summer...
The Garabedian Group, Inc.
Jun 17, 20224 min read
Using Online Services Such as Airbnb to Rent out Your Home? Better Read This!
Renting out your home or second home for short periods of time is becoming increasingly popular with the advent of online services that...
The Garabedian Group, Inc.
Jun 10, 20223 min read
There's a Lot You Can Get Wrong With Business Budgeting... But It's Still an Invaluable Practice
According to one recent study, only about two-thirds of all businesses that open today will survive two years in operation. Roughly half...
The Garabedian Group, Inc.
May 25, 20224 min read
Toss Your Paystub Every Week? Maybe It’s Time To Take a Closer Look
What you do with your paystub often depends on how you get paid. If you have direct deposit there’s a good chance that you just rip the...
The Garabedian Group, Inc.
May 18, 20223 min read
Tax Advantages of Your Teen Landing their First Summer Job
You were there for your child when they lost their first tooth. You were there for them when they graduated from kindergarten. Now they...
The Garabedian Group, Inc.
May 18, 20223 min read
You May Qualify for the 20% Tax Pass-Through Deduction
Several years ago, when Congress changed the tax-rate structure for C corporations to a flat rate of 21% instead of the former graduated...
The Garabedian Group, Inc.
May 11, 20225 min read
Did You Get a Letter from the IRS? Don’t Panic.
Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS...
The Garabedian Group, Inc.
May 4, 20223 min read
Don’t Be A Victim to IRS-Impersonating Scammers
Thieves use taxpayers’ natural fear of the IRS and other government entities to ply their scams, including e-mail and phone scams, to...
The Garabedian Group, Inc.
May 2, 20228 min read
Read This First Before Tapping Your Retirement Savings
Your 401(k), IRA or other retirement accounts may be a tempting source for cash if you find yourself short of funds or have a major...
The Garabedian Group, Inc.
Apr 27, 20224 min read
What You Need to Know about Student Loan Interest
If you have borrowed funds to finance your college education or that of your spouse or children, it is important that you understand that...
The Garabedian Group, Inc.
Apr 26, 20224 min read
5 Reasons to Amend a Previously Filed Tax Return
The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to...
The Garabedian Group, Inc.
Apr 20, 20224 min read
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