Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here's why single-member limited liability companies (SMLLCs) are [...]
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply [...]
Prices in many residential real estate markets have surged over the last few years. As a result, you may be sitting on a significant unrealized gain, especially if you've owned [...]
From a financial perspective, women have come a long way in recent years. They currently possess about $10 trillion of the country's wealth. What's more, it's estimated that females will [...]
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first [...]
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are [...]
Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax bill. Thankfully, it [...]
Federal estimated tax payments are designed to ensure that certain individuals pay their fair share of taxes throughout the year. If you don’t have enough federal tax withheld from [...]
The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, [...]
If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to [...]
If your business is expanding its geographical footprint beyond state or U.S. borders, it's important to understand the transfer pricing rules. In a nutshell, transfer pricing refers to cross-border pricing [...]
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and [...]
Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal Revenue [...]
Have you set up Section 529 college savings plans for your children or grandchildren? The major advantage of 529 plans is that qualified withdrawals are always federal-income-tax-free and usually state-income-tax-free. But there can be [...]
What's the difference between capital gains and losses and ordinary gains and losses? The classification will have a major impact on your federal income tax obligations when you sell assets, such as investments, real [...]