2 min read
The “Kiddie Tax” Hurts Families More Than Ever
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from...
To help you understand the implications of the recent Corporate Transparency Act
We have prepared a selection of frequently asked questions.
Taxes (7)
2 min read
If Your Kids Are off to Day Camp, You May Be Eligible for a Tax Break
Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You...
2 min read
It’s a Good Time to Check Your Withholding and Make Changes, If Necessary
Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have gotten a refund in...
2 min read
Selling Your Home? Consider These Tax Implications
Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full force in your...
2 min read
Check on Your Refund — and Find out Why the IRS Might Not Send It
It’s that time of year when many people who filed their tax returns in April are checking their mail or bank accounts to see if their refunds have...
2 min read
Plug in Tax Savings for Electric Vehicles
While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts...
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Casualty Loss Deductions: You Can Claim One Only for a Federally Declared Disaster
Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act, eligible...
1 min read
Still Working After Age 70½? You May Not Have to Begin 401(K) Withdrawals
If you participate in a qualified retirement plan, such as a 401(k), you must generally begin taking required withdrawals from the plan no later than...
1 min read
Investment Interest Expense Is Still Deductible, but That Doesn’t Necessarily Mean You’ll Benefit
As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA...
1 min read
Stretch Your College Student’s Spending Money with the Dependent Tax Credit
If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not...
1 min read
The 2018 Gift Tax Return Deadline Is Almost Here
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file...
2 min read
Vehicle-Expense Deduction Ins and Outs for Individual Taxpayers
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax...
2 min read
Careful Tax Planning Required for Incentive Stock Options
Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company...