Category: Tax Planning

The stock market provides an exciting opportunity to make money. But when you do well, the government wants a piece of the action in the form of taxes. Each sale […]

The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March […]

The biggest financial transactions most Americans make is the purchase and sale of a primary residence. As with most financial transactions, there’s a tax angle. Knowing the tax implications of a […]

After much debate, the Senate and House reached various compromises on the latest relief bill, the American Rescue Plan Act, which President Biden signed into law on March 11. The 600 […]

The latest relief bill—the American Rescue Plan Act—is the size of a long novel, so it will take some time to get the full scope. The IRS has started to […]

The second relief bill, passed at the end of 2020, contains updates to the employee retention credit, a refundable payroll tax credit. Each option has its own rules and regulations […]

Are there business deductions you can take advantage of? Yes, but first you have to make sure your expenses are truly business-related. The lines can blur, especially with a small […]

The Alternative Minimum Tax is a mandatory alternative to the standard income tax. It’s triggered when taxpayers make more than the exemption and use many common itemized deductions. According to […]

The Head of Household filing status allowed by the IRS is the most advantageous filing status for a single taxpayer. Numerous rules apply to qualify, but if you do, it […]

A trust can be a powerful estate-planning tool, but contrary to popular belief, trusts do not make all taxes disappear. The families who set them up still need to consider […]

The IRS released the final regulations and other guidance on the limitation on the deduction for business interest expenses under the Tax Cuts and Jobs Act of 2017 that was […]

What will 2021 bring us? After a year of turmoil and surprises, no one has a clear idea. But there are some certainties, and one is that the IRS is […]