Because of the current estate tax exemption amount ($11.7 million in 2021), many estates no longer need to be concerned with federal estate tax. Now that many estates won’t be subject to estate tax, you can devote more energy to other aspects of estate planning.
Read MoreElectric vehicles (EVs) are increasing in popularity all the time — and more of them are qualifying for a federal tax credit. In fact, the IRS added several more eligible models over the summer.
Read MoreThe Internal Revenue Service has launched a new feature allowing any family receiving monthly Child Tax Credit payments to quickly and easily update their information.
Read MorePaid leave credit is available for providing leave to employees caring for individuals obtaining or recovering from a COVID-19 immunization.
Read MoreLike most business owners, you’ve probably heard about 100% bonus depreciation. It’s available for a wide range of qualifying asset purchases. But there are many important details to keep straight. Here are five key points about this powerful tax-saving tool:
Read MoreDuring the pandemic, more than a few families have hired household workers while schools in many areas have gone virtual and some day care centers have had limited availability. If you’ve done so, be sure you know the nuances of the “nanny tax.”
Read MoreStudent loan interest is deductible for some borrowers subject to certain limits. Find out if you qualify.
Read MoreAn IRS audit seems scary but may be nothing to worry about. In many cases, the IRS closes an audit after receiving requested documentation. Here are the latest IRS statistics, as well as some tips on how to help come out of an audit with a favorable result.
Read MoreSales calls sure aren’t what they used to be. Here’s how businesses can stay on track with the ongoing trend toward digital interactions in the sales process.
Read MoreHave you inherited assets or are you planning your estate? If so, it’s crucial to understand the current “step-up” basis rules and why they might change.
Read MoreIf you share a vacation home with family members, holding it in a limited liability company (LLC) is one option that offers several important benefits.
Read MoreAfter a powerful start, stocks will grind higher in the second half of 2021. But watch out for curveballs.
Read MoreFor most Americans, taking the standard deduction on your tax return is better than claiming itemized deductions. See how much you can deduct on your next tax return.
Read MoreThe U.S. has a housing shortage and a love affair with home improvement, both of which could create tailwinds for this group of housing stocks.
Read MoreMany tax changes have been enacted recently to help mitigate the financial damage caused by COVID-19. They may affect you if you collected unemployment last year or if you buy health insurance through a “Marketplace.”
Read MoreWhen you sell your home, you’ll pay tax (or avoid it) based on the “basis” of the property. Here’s how to determine yours.
Read MoreThe COVID-19 pandemic has emphasized the importance of self-care. In response, businesses are building or rebuilding employee wellness programs.
Read MoreIf your business is a restaurant or anything like one, you may qualify for funding under the just-launched Restaurant Revitalization Fund. But you’ve got to act soon.
Read MoreWith the economy expected to improve in the months or quarters ahead, many business owners and entrepreneurs may decide to launch new enterprises. If you’re among them, be aware that the way you handle some of your initial expenses can make a large difference in your tax bill.
Read MoreIf you qualify to file as a “head of household,” you may pay less tax than if you file your tax return as a “single” individual
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