Tag Archives: 4506t

Does Gifting Reduce Your Taxable Income?

If you are like other hard-working individuals who are disappointed to see the IRS take a sizable bite out of their checks, you could be wondering how you can reduce the amount of taxes you owe each year. You might … Continue reading

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What is the difference between taxable income and adjusted gross income?

When doing your taxes, you will find that there is a difference between taxable income and adjusted gross income. Understanding the difference can be useful in various areas. For instance, if you are applying for a loan or for certain … Continue reading

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Can I Give Someone $1 Million Tax-Free?

You might think you can give money or property away without needing to document it on your tax paperwork, but that is not the case. At this point, you likely want to know whether or not you can give someone … Continue reading

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What Borrowers Should Know About A 4506-T

If you’re applying for a mortgage or other loan, your lender may ask you to sign an IRS Form 4506-T. This form allows the lender to request your tax transcripts directly from the IRS for the last three years. A … Continue reading

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How Long Does it Take to Process a Mortgage Loan?

Thinking about applying for a mortgage? If so, you may be wondering how long the process actually takes, from beginning to end. While the length of time may vary based on the extenuating factors of your case, there are some … Continue reading

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