News

Tax Advice: How Renting Out a Vacation Property Will Affect Your Taxes

March 20, 2024

Many people who own vacation homes rent them out to earn extra income. Even better, renting them out may provide tax breaks. Here are the rules.

Tax Advice: Job Loss is Bad, Tax Implications Can Be Worse

March 6, 2024

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.

Tax Advice: New Option for Unused Funds in 529 College Savings Plan

March 4, 2024

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.

Tax Advice: Get Ready for the 2023 Gift Tax Return Deadline

March 3, 2024

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).

Tax Advice: On Filing Jointly or Separately as a Married Couple

February 7, 2024

Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.

Tax Advice: Tax Season Q&A

February 2, 2024

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.

Tax Advice: If You Gave to Charity in 2023

February 1, 2024

Did you make a charitable gift last year and are hoping for a tax break when you file your return? Here are the donation rules to secure a deduction.

Tax Advice: Answers to Your Tax Season Questions

February 1, 2024

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.

Tax Advice: Build a Tax-Favored Retirement Nest Egg

February 1, 2024

How much can you save in an IRA this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.

Tax Advice: "Kiddie Tax" Can Affect Kids Till Young Adulthood

January 11, 2024

Do you consider 21- or 22-year-olds to be kids? For purposes of the “kiddie tax,” they might be. Here are the rules.

Building blocks with health related icons imprinted on them, next to words "Medical expense deduction?"

Tax Advice: It's Possible (But Not Easy) to Claim a Medical Expense Tax Deduction

January 3, 2024

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.

Gavel and sound block next to word "Damages"

Tax Advice: On Court Awards & Out-of-Court Settlements

January 3, 2024

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.

Graphic of a couple moving in a car, with words "Moving South" written on the car

Tax Advice: When Contemplating a Move to Another State

January 3, 2024

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.

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