Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may [...]
How does the Tax Cuts and Jobs Act (TCJA) affect divorce settlements? Changes in the new law may require divorcing individuals — especially those who own businesses and other investments — [...]
Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an [...]
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to [...]
Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such as IRAs or [...]
If you're divorced, it's possible to claim Social Security spousal and survivor benefits from your ex-spouse, and to keep the entire matter private. The Social Security Administration (SSA) will not inform [...]
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex [...]
Since the qualified business income (QBI) deduction first become available in 2018, things have changed dramatically, mainly due to the various effects of the COVID-19 pandemic. Possible tax rate increases, and [...]
If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you [...]
If you made large gifts to your children, grandchildren, or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in [...]
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a [...]
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures [...]
There are still ways to earn income that is free from federal income tax. With the various tax changes that have taken effect in recent years, tax-free income opportunities are perhaps [...]
If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject [...]
Info courtesy of IRS.gov Teachers Can Deduct Out-of-Pocket Classroom Expenses Including COVID-19 Protective Items Fall is here and another school year is in full swing. Many teachers are already [...]