Operating a “Sale Ready” Business
Smart business owners always operate as if they're planning to sell — because they never know when someone will come along with an irresistible offer or when tragedy might [...]
New Upcoming Requirement for Businesses that Receive Large Amounts of Cash
Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. [...]
It’s Important to Understand How Taxes Factor Into M&A Transactions
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how [...]
Investment Swings: What’s the Tax Impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final [...]
Plan Now For Year-End Gifts With the Gift Tax Annual Exclusion
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By [...]
Businesses: It’s Time to Get Ready for the New Corporate Transparency Reporting Rules
Attention: Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), which was enacted in 2021, certain companies [...]
Crypto: What Taxpayers Need to Know
Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that [...]
Guaranteeing a loan to your corporation? There may be tax implications
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation [...]
Selling Your Home for a Big Profit? Here Are the Tax Rules
Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in [...]
Disabled Family Members May Be Able to Benefit From ABLE Accounts
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to [...]
Delinquent Taxpayers May Experience Passport Issues
Let's say a person is planning to take a plane trip out of the country. And further suppose that individual owes the federal government a fair amount of back taxes. [...]
Can You Deduct Student Loan Interest On Your Tax Return?
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you [...]
Pocket a Tax Break for Making Energy-Efficient Home Improvements
An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home [...]
A Tax-Smart Way to Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels, and sell them off for a hefty profit, it [...]
What Can You Do to Lower Your 2023 Tax Obligation?
It's hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can't afford to take a break from [...]