Once upon a time, employees could claim home office expenses as a miscellaneous itemized deduction, subject to a 2%-of-adjusted-gross-income floor, if the arrangement was for their employer's convenience. But [...]
Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings — after a [...]
Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NMTC) encourages private investment in these underserved [...]
Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. [...]
Have you already made contributions to charity this year? Are you considering making more between now and year end? If so, it’s important to be familiar with the tax [...]
It’s easy to focus on the excitement of a big win. But federal tax law generally treats lottery prizes, gambling winnings and other awards as taxable income. Knowing the [...]
Parents, grandparents and others can now contribute to Internal Revenue Code Section 530A accounts — also known as "Trump Accounts" — to benefit eligible children. This new type of [...]
The IRS recently announced an increase in the optional standard mileage rate for business vehicle use for the second half of 2026. The adjustment reflects higher fuel costs this [...]
Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the [...]
Last year, the new tax deduction for taxpayers 65 and older was sometimes referred to as “no tax on Social Security.” In actuality, this up-to-$6,000-per-individual deduction, also known as [...]
Tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business's taxable income, a credit reduces the business's tax liability dollar for dollar. Tax [...]
Just because a merger or acquisition is completed on paper doesn't mean the transactions will be a success. The implications can generally be seen 18 to 24 months after [...]
When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a [...]
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large [...]
If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, [...]