It’s home selling (and buying) season. What are the tax consequences if you buy another home but decide to keep your current home and rent it out?
Read More
Once your 2021 tax return has been filed, there still may be some issues to consider. Many people have questions about how to find their refund status, which records can be thrown out and when to file amended tax returns.
Read More
Selling mutual fund shares involves many complex factors. Here are the basic rules.
Read More
If you can’t file by the April 18 tax deadline, here’s what you should do to avoid steep penalties.
Read More
A vacation home is more than just a place to relax. It also may provide tax breaks. Here are the rules if you rent it out for part of the year.
Read More
For the most part, property you inherit isn’t included in your income for tax purposes. However, certain items may have to be included in your income, although you may also be entitled to a deduction on account of them.
Read More
Most people don’t think about taxes if they lose their jobs but there can be tax implications to a layoff or termination. Here are some of the issues that may occur.
Read More
To help ensure financial security in retirement, saving now on a tax-favored basis is a smart move. And if you qualify, you still have time to contribute to an IRA or SEP and save on your 2021 tax return.
Read More
April 18 isn’t only the income tax return deadline. It’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2021 gift tax return this April. (Note: you may want to file one anyway).
Read More
In general, married couples who file jointly save more money on taxes than those who file separate returns. However, there are situations when filing separately is a better option.
Read More
If you’re deducting a charitable contribution on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t yet received a letter for a charitable donation you made in 2021? Here are the rules.
Read More
Traditional or Roth IRA? Here are the differences in these retirement savings accounts.
Read More
Help speed processing and avoid hassles this tax season with these tips.
Read More
Want to get your tax return sooner and protect yourself from tax identity theft? File your tax return early
Read More
One of your new year’s resolutions may be to take better care of your health. But can you deduct your out-of-pocket medical costs on your tax return?
Read More
If you’re going to receive a personal injury or discrimination settlement or award, you want the best tax result possible. Here are the basic rules of when amounts are tax free or taxable.
Read More
Before you know it, we’ll be ringing in 2022. You may still have time to reduce your 2021 federal tax liability by taking these steps.
Read More
Buried in the infrastructure law that was just enacted is a change in the way cryptocurrency transactions are reported to the IRS.
Read More
If you have a flexible spending account, you may want to schedule a trip to the dentist, buy new eyeglasses or have elective medical procedures performed. Here’s why.
Read More
If you’re concerned about your 2021 tax liability, consider these year-end tax planning strategies.
Read More