We have prepared a selection of frequently asked questions.
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Scott Henvey: Jun 5, 2024 2:20:47 PM
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated...
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Scott Henvey: Jun 5, 2024 2:12:57 PM
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires...
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Scott Henvey: May 10, 2024 9:54:15 AM
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to...
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Scott Henvey: May 10, 2024 9:46:07 AM
For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two options:...
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Scott Henvey: May 10, 2024 9:33:35 AM
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise...
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Scott Henvey: Apr 16, 2024 4:02:03 PM
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and...
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Scott Henvey: Apr 16, 2024 3:54:06 PM
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully...
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Scott Henvey: Apr 16, 2024 3:45:13 PM
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in...
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Scott Henvey: Apr 16, 2024 3:37:10 PM
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a vacation home....
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Scott Henvey: Apr 16, 2024 3:23:03 PM
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re...
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Scott Henvey: Mar 7, 2024 9:04:25 AM
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax...
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Scott Henvey: Mar 7, 2024 8:56:50 AM
Many small business owners run their companies as leanly as possible. This often means not offering what are considered standard fringe benefits for...
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Scott Henvey: Mar 7, 2024 8:46:16 AM
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit...
