Net Investment Income Tax: Does It Apply to You?
Information from irs.gov If an individual has income from investments, the individual may be subject to net investment income tax. Effective Jan. 1, 2013, individual taxpayers are liable for a [...]
Plan Ahead for Vacation Home Rentals
Information from irs.gov During the summer, taxpayers often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of [...]
Factor in State and Local Taxes When Deciding Where to Live in Retirement
Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax [...]
2018 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be [...]
Saving Tax on Restricted Stock Awards With the Sec. 83(b) Election
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, [...]
The TCJA Changes Some Rules for Deducting Pass-through Business Losses
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs [...]
Special Tax Benefits for Military
Information from IRS.gov Members of the military and their families are often eligible for certain tax breaks. For example, members of the armed forces don’t have to pay taxes on [...]
Be Aware of the Tax Consequences Before Selling Your Home
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things [...]
Answers to Your Questions about Marital Status and Tax Returns
When a couple gets married or divorced, taxes are probably not the first thing on their minds. But many decisions that couples make do affect their tax returns — and the amount [...]
Do Employers Have to Compensate Hourly Technicians for Travel Time?
The U.S. Department of Labor's (DOL) Wage and Hour Division (WHD) has issued a new Opinion Letter on whether employers must compensate employees for travel time. These letters are issued [...]
Do You Need to Adjust Your Withholding?
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means [...]
Capital Gains Rates Before and After the New Tax Law
Are you confused about the federal income tax rates on capital gains and dividends under the Tax Cuts and Jobs Act (TCJA)? If so, you're not alone. Here's what you [...]
Get started on 2018 tax planning now!
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be [...]
Handle with Care: The Nanny Tax Rules
When you hire a nanny, housekeeper or other domestic worker, pay close attention to the tax rules. Over the years, there have been news stories about political appointees and others [...]