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 [...]
What Employers Should Kow About Business-Related Frequent Flyer Miles
Fall has arrived — and, with it, one of the more active seasons for business travel. Perhaps your organization has employees heading to conventions, conferences, client meetings or other [...]
Remote Work Can Complicate Your State Taxes
Working remotely may broaden your job options and make daily life easier. But working from a different state than your employer — or spending part of the year working [...]
How the Tax-Free Transfer Rule Works
The tax-free transfer rule applies to most marital assets, including cash, vehicles, real estate, investment accounts and private business interests. Although there's generally no recognized gain or loss when [...]
Educators May Be Able to Claim 2 Deductions For 2026 Classroom Expenses
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 [...]
Divorce Cases: Active versus Passive Appreciation
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 [...]
Tax Planning Can Ease the Sticker Shock of Raising a Child
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 [...]
Getting Divorced? Consider Taxes When Splitting Up Retirement Accounts
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 [...]
Self-Employed? You May Be Eligible for the Home Office Deduction
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 Benefits May Have Income Tax Consequences You Don’t Expect
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 [...]
How What You Donate Impacts Your Tax Deductions
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 [...]
Before You Spend Lottery, Gambling or Other Winnings, Understand the Tax Rules
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 [...]
Trump Accounts Go Live and the IRS Provides Tax-Reporting Relief
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 [...]
IRS Revs Up Standard Mileage Rates for the Second Half of 2026
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 [...]
Selecting a Tax Accounting Method for Your Small Business
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 [...]