Will Your Social Security Benefits Be Taxable?
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 [...]
Make the Most of the General Business Credit
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 [...]
Preventative Steps Help Ensure M&A Success
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 [...]
Joint Returns: Spouses Are Guilty Until Proven Innocent
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 [...]
Demystifying like-kind exchanges
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, [...]
Medical Costs: Can I Really Get a Tax Break for That?
It's difficult for many people to write off medical expenses because of the limits imposed under the tax laws. But you may qualify by including every expense allowed. Some of the qualified [...]
Midyear Tax Planning for Noncorporate Small Business Owners
If you operate your small business as a sole proprietorship or a single-member limited liability company (LLC) treated as a sole proprietorship for tax purposes, paying close attention to [...]
The “Kiddie Tax” Can Apply Long After Childhood
Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and [...]
Tax Planning After the Loss of a Spouse
The death of a spouse is, first and foremost, a profound personal loss with intense emotional and psychological impact. But it can also bring about major financial changes at [...]
What’s a “small business,” and why does it matter?
Although your business may seem big to you, you may wonder how the government classifies it for tax purposes. If your organization qualifies as a “small business,” you may [...]
Claiming the QBI Deduction for Rental Real Estate
The One Big Beautiful Bill Act (OBBBA), enacted in 2025, made permanent the federal income tax deduction for qualified business income (QBI). This break was originally introduced under the [...]
Tax Mitigation Strategies When Rebalancing Your Investment Portfolio
Large stock market gains in recent years, coupled with some significant volatility in 2026, have left many investors with portfolios that are out of balance with their desired asset [...]
Tax Returns: Spouses Can Be Guilty Until Proven Innocent
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 or ex-spouse cheats [...]
Individual tax calendar: Key deadlines for the remainder of 2026
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help [...]
Testing the Waters Before Jumping In
When considering a merger or acquisition, the most opportune time to find out about possible culture clashes is obviously before the deal is complete. In fact, one often-cited reason [...]