tax
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much…
Social Security benefits: Do you have to pay tax on them? Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government…
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…
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind”…
As you create your estate plan, your main objectives likely revolve around your family, both current and future generations. Your goals may include reducing estate tax liability so that you…
President Biden is seeking to bolster the IRS and enforcement of the tax laws over the next decade. In the last 10 years, the Internal Revenue Service’s funding has been…
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and…
This is the year to take the leap to e-file, to pay online, or request direct deposit of any refunds. The IRS has an enormous backlog of mail, an incredible…
Congratulations business owner! You’ve pivoted your business and learned how to keep your business going when your employees were ordered to stay at home. You have communicated with your clients…
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you…
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put…
As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take a certain “coronavirus-related distribution” from their retirement plans without paying tax.…
You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and rarely think about them.…
If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for withdrawals…
When your teen joins the workforce, it can be a rewarding experience for both you and your teen. They gain some financial independence and learn some life lessons, and you…