The holiday season is here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties [...]
Information from IRS.gov Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to [...]
As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic tax rules involved [...]
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more [...]
Here's a little-known secret for parents planning to send their children to college in the future: Some of the tax-saving moves you make now could hurt your student's chances for getting financial aid later. [...]
The federal income tax rules for depreciating vehicles used for business are complicated. And different rules apply to different categories of vehicles. Special limitations apply to vehicles that are classified as [...]
If you own a valuable piece of art, or other property, you may wonder how much of a tax deduction you could get by donating it to charity. The answer [...]
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles [...]
Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the [...]
There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re [...]
It costs a pretty penny to send a child to college or private school these days. But at least the federal tax code may provide some relief, within certain limits. Can [...]
If you were adversely affected by the COVID-19 pandemic, you may have taken a tax-favored coronavirus-related distribution (CVD) from a traditional IRA last year. This privilege was allowed under the CARES [...]
Before you sell your home, consider the tax consequences. There are some subtle nuances to the home-sale gain exclusion. (See "Home-Sale Gain Exclusion: Timing Counts" at right.) Here are some scenarios that you [...]
In many areas, residential real estate markets have surged, and some are still surging. In these sellers' markets, big home-sale gains are likely. That's great news if you're a seller — [...]
As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the [...]