Charitable IRA Rollovers May Be Especially Beneficial in 2018
If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on [...]
Tax Planning for Investments Gets More Complicated
For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine [...]
Tax Deduction Ins and Outs of Donating Artwork to Charity
If you’re charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial [...]
Owning a Home Has Tax Advantages But There Are Limits
It's true that owning a home instead of renting can result in extra deductions at tax time. The cost of ownership is reduced by any tax savings that you are [...]
Tax Reform: Which Changes Are Temporary vs. Permanent?
The Tax Cuts and Jobs Act (TCJA) includes a bevy of important tax changes for individuals and businesses. However, it's sometimes hard to keep track of which changes are permanent [...]
Watch Out for Unfavorable ‘Related Party’ Rules
Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal [...]
Do you still need to worry about the AMT?
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax [...]
Close-up n the New QBI Deduction’s Wage Limit
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The [...]
Going Green: Save Tax by Saving Energy
“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the [...]
Net Investment Income Tax: Does It Apply to You?
Information from irs.gov If an individual has income from investments, the individual may be subject to net investment income tax. Effective Jan. 1, 2013, individual taxpayers are liable for a [...]
Plan Ahead for Vacation Home Rentals
Information from irs.gov During the summer, taxpayers often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of [...]
Saving Tax on Restricted Stock Awards With the Sec. 83(b) Election
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, [...]
The TCJA Changes Some Rules for Deducting Pass-through Business Losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs [...]
Special Tax Benefits for Military
Information from IRS.gov Members of the military and their families are often eligible for certain tax breaks. For example, members of the armed forces don’t have to pay taxes on [...]