In addition to paying sales tax on the things you buy, you may also be required to pay taxes on its perceived fair market value later on. These personal and business taxes are assessed on certain ...

Imagine that your home is destroyed in a fire. As you start the process to rebuild your life, a hard reality settles in: Your insurance coverage falls short of replacing your lost personal property.

The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Many estate-planning attorneys use a personal property memorandum (memo) for the disposition of personal property. It’s used when the attorney drafts a client’s will to allow the client to change ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over ...

Elizabeth Rivelli has nearly five years of experience covering insurance for finance publications. She has expertise in various insurance lines, including car insurance, health insurance, travel ...

The enactment of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, amended Sec. 1031 to apply only to exchanges of real property. Because of this change, the exchange of personal ...