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Tax Advice: Maximize Your Year-End Giving With Gifts That Offer Tax Benefits

October 23, 2024

If you’re feeling generous as we head toward the holidays, you may want to give cash gifts to your loved ones. You may also want to steer clear of gift tax implications.

Tax Advice: Is Your Money-Losing Activity a Hobby or a Business?

October 21, 2024

Transforming your hobby into a business can impact your taxes, especially if the activity loses money for some time. Here’s how you may be able to rightfully deduct losses.

Tax Advice: Unlock Your Child's Potential By Investing in a 529 Plan

October 21, 2024

College costs have gone up sharply in the past few decades, so starting to save early is a smart move. One option is to invest in a tax-advantaged 529 plan.

Tax Advice: Make Year-End Tax Planning Moves Before It's Too Late

October 8, 2024

Taking proactive steps now could help reduce your tax liability for 2024 and 2025. Here are some considerations.

Tax Advice: Deduct Seller-Paid Points as the Real Estate Market Improves?

October 8, 2024

When you buy a house, can you deduct seller-paid points on your tax return? Here are the rules.

Tax Advice: 6 Tax-Free Income Opportunities

September 12, 2024

You may be able to collect federal-income-tax-free income and gains in several different ways. Here are six of them.

Tax Advice: A $7,500 Federal Tax Credit for Buying Electric Vehicles

September 12, 2024

Interested in buying a plug-in electric vehicle? You may be eligible for a valuable federal tax credit. Here are the rules.

Tax Advice: How Working Remotely May Have Tax Consequences

August 23, 2024

For some employees who work remotely, the financial reality can be taxing. Here’s what to expect if you have a job but you don’t go to a physical office.

Tax Advice: Unfairly Burdened By a Spouse's Tax Errors?

August 15, 2024

“Innocent spouse” relief may be available to a taxpayer who unfairly receives a tax bill that’s attributed to a spouse’s or ex-spouse’s errors. Here’s a rundown of the relief, along with details of two recent court cases.

Tax Advice: Owe Estimated Taxes? If So, When's the Next One Due?

August 6, 2024

Certain taxpayers generally must make quarterly estimated tax payments to avoid a penalty. Here are the rules, along with when the next payment is due.

Tax Advice: The Implications of Disability Income Benefits

August 5, 2024

Disability income may or may not be taxable by the federal government. Here are the basic rules.

Tax Advice: How Are Series EE Savings Bonds Taxed?

July 29, 2024

If you own Series EE bonds, take a look at the issue dates to see if the bonds are no longer earning interest. Here’s how bond interest is taxed.

Tax Advice: Planning Your Estate? Don't Overlook Income Taxes

July 17, 2024

The federal estate tax exemption is currently $13.61 million, so you may want to think more about saving income taxes for your heirs (rather than worrying about estate taxes).

Tax Advice: Six Tax Issues to Consider if You're Divorcing

July 17, 2024

Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.

Tax Advice: On Charitable Donations & Taxable IRA Withdrawals

July 16, 2024

Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.

Tax Advice: As Tax Provisions Are Scheduled to Expire...

June 30, 2024

What’s on the tax horizon as many Tax Cuts and Jobs Act provisions get closer to their scheduled expiration date? Here are four possible scenarios.

Tax Advice: Social Security Update - How High Can It Go?

June 18, 2024

The Social Security tax paid by many individuals will continue to go up in future years. Here’s a look at how the tax affects employees, self-employed individuals and employers.

Tax Advice: If Caring for an Elderly Relative

June 17, 2024

If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.

Tax Advice: When Selling Appreciated Vacant Land

June 17, 2024

If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.

Tax Advice: The Consequences of Selling Mutual Funds

June 12, 2024

Investing in mutual funds is popular, but selling shares may result in complicated tax matters. Here are the rules.

Tax Advice: Pay Attention to the Rules When Hobby Turns to Business

May 13, 2024

There are a number of different hobbies that some taxpayers turn into businesses. Here’s how they can protect tax breaks on their tax returns.

Tax Advice: When You Sell an Appreciated Vacation Home

May 2, 2024

If you own a vacation home, perhaps you’re ready to sell it. What are the tax implications? Here are the rules if you sell at a profit.

Tax Advice: Keep These 3 Issues in Mind After Filing Your Return

April 28, 2024

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.

Tax Advice: The Pros and Cons of Turning Your Home Into a Rental

April 28, 2024

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?

Tax Advice: After Filing Your Return, 3 Things to Remember

April 24, 2024

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.

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