Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed [...]
It's common in divorce cases for an interest in a closely held business or professional practice to be the marital estate's most valuable asset. In many states, when the [...]
If you're a parent who's been doing some back-to-school shopping lately, you know that raising a child is expensive. Whether real or virtual, that overflowing cart is just one [...]
Most businesses don't buy anything big without performing "due diligence" — the thorough homework process of checking things out. It's also a good idea for consumers thinking about making [...]
Divorce is a major life event that can have significant personal and financial consequences. In addition to addressing family and emotional concerns, you'll need to determine whether your assets [...]
Contributing as much as possible to tax-deferred retirement accounts such as traditional 401(k)s and IRAs is a common recommendation. Contributions generally are pretax or deductible, and the power of [...]
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 [...]