Once your 2023 tax return has been filed, you can breathe a sigh of relief. But there still may be some tax issues to consider. Here are three of them.
Home selling (and buying) season is heating up. At the same time, rents are high in many parts of the country. What are the tax implications if you buy another home but decide to keep your current home and rent it out?
Once your 2023 tax return has been filed, you can breathe a sigh of relief. But there still may be some tax issues to consider. Here are three of them.
Many retirees are surprised to find out that some of their Social Security benefits are hit with federal income tax. Will you be one of them? Here are the rules.
Losing your job doesn’t mean putting tax issues in the rear-view mirror. There can be tax implications to a layoff or termination. Be aware of these three areas.
It’s not unusual for parents to end up with unused funds in their children’s 529 college savings plans. There’s a new option that allows them to transfer unused funds in a 529 plan to a Roth IRA. Here are the details.
April 15 isn’t only the income tax return deadline, it’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2023 gift tax return. (Note: You may want to file one anyway).
When will my 1099 forms arrive and when is the best time to file my tax return? Here’s the answer to these and other tax season questions you may have.
When will my 1099 forms arrive and when is the best time to file my tax return? Here’s the answer to these and other tax season questions you may have.
Out-of-pocket medical expenses can cost you a bundle. Can you deduct these expenses on your tax return? The requirements and limits may make it difficult. Here are the rules.
You want the best tax result possible if you’re set to receive a personal injury or discrimination settlement or award. Some amounts are taxable while others are excluded from your taxable income. Here are the rules.
Are you dreaming of retiring to another state to escape cold weather or to be close to loved ones? Before calling the moving truck, examine the state and local tax implications.
In 2023, if you pay a household worker cash wages of $2,600 or more, you must withhold and pay Social Security and Medicare taxes. Here’s what the amount will be for 2024, along with details about possible tax obligations for household workers.
If you need cash, you may want to tap your traditional IRA. But if you’re not yet 59½, you may have to pay a penalty tax if you do. Here are 11 exceptions to the penalty.
Perhaps you receive executive compensation in the form of restricted stock awards. Here’s how these awards work, how they’re restricted and an explanation of the tax ramifications.
Starting next year, employers with certain retirement plans can allow staff members to contribute to pension-linked emergency savings accounts. Here’s how they work and who can contribute.
Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.