If you’re a collector, donating from your collection instead of your bank account or investment portfolio can be tax-smart. When you donate appreciated property rather than selling it, you avoid [...]
Information courtesy of IRS If you, your spouse or a dependent are heading off to college in the fall, you may be able to claim a tax credit on your [...]
Information from IRS.gov Did you know that in most instances the gains from the sale of your home are taxable. Keep the following in mind is you plan to sell your [...]
Information courtesy of IRS Miscellaneous deductions can cut taxes. These deductions include certain expenses you paid relating to work as an employee. Remember, you must itemize deductions when you file [...]
Mortgage interest rates are still at historically low levels, but they’re expected to go up by year end. So if you’ve been thinking about helping your child — or grandchild [...]
Teenagers’ retirement may seem too far off to warrant saving now, but IRAs can be perfect for teens precisely because they’ll likely have many years to let their accounts grow [...]
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips [...]
With nonqualified stock options (NQSOs), if the stock appreciates beyond your exercise price, you can buy shares at a price below what they’re trading for. This is the same as [...]
Information taken from IRS.gov Special tax breaks may apply to those in the U.S. Armed Forces. Deadline Extensions. Some members of the military, such as those who serve in a [...]
Did you know your gambling winnings are taxable? Whether you bet on the horses or play the slots you must report the winnings on your tax return. And if you [...]
You may not have asked yourself that question in so many words, but you may have wondered what sets CPAs apart from other financial professionals. The answer in short: A [...]
Many clients see their CPAs at tax time, when the main focus is on completing and filing their tax return. As a result, they may not take the opportunity to [...]
A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, [...]
Where will your business be in five years? Would strategic budget cuts in some areas improve your company’s health? Are there ways you can boost revenue? If you’re nearing retirement, [...]
Do you work at home or have a home-based business? The IRS has created a simpler option for calculating the deduction for the business use of your home. The new [...]