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Information courtesy of IRS.gov If you rent out your vacation property to others remember to report the rental income on your tax return. However, you may not have to report the [...]

Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate [...]

For anyone who takes a spin at roulette, cries out “Bingo!” or engages in other wagering activities, it’s important to be familiar with the applicable tax rules. Otherwise, you could [...]

Last year a break valued by many charitably inclined retirees was made permanent: the charitable IRA rollover. If you’re age 70½ or older, you can make direct contributions — up [...]

Information courtesy of IRS A summer wedding can affect your taxes. Know the tax issues that come along with marriage. Name change. The names and Social Security numbers on your [...]

You can only deduct losses from an S corporation, partnership or LLC if you “materially participate” in the business. If you don’t, your losses are generally “passive” and can only [...]

Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if [...]

The income tax credit for certain energy-efficient home improvements and equipment purchases was extended through 2016 by the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). So, [...]

Woman Donating Clothes Giving to charity can provide you with a warm feeling as well as a nice tax break. But you've got to itemize deductions on your [...]

Today's college students often leave school with an overwhelming amount of debt. In some cases, student loans are discharged (also known as being cancelled or forgiven). In other cases, these [...]

Information from IRS.gov Here are some tips for students with summer jobs: Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If [...]

Executives and other key employees are often compensated with more than just salary, fringe benefits and bonuses: They may also be awarded stock-based compensation, such as restricted stock or stock [...]

As part of your exit strategy or your estate plan, let's say your team of advisers has helped you determine that selling your business will help you best achieve your [...]

Information courtesy of IRS.gov Day camps are common during the summer months and many parents enroll their children in a day camp or pay for day care so they can [...]

Many businesses host a picnic for employees in the summer. It’s a fun activity for your staff and you may be able to take a larger deduction for the cost [...]