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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.

Tax Advice: File for an Extension if You're Not Ready for 4/15 Deadline

April 6, 2024

The April 15 tax deadline is approaching, but what if you’re not ready to file? There are some simple steps you can take to avoid steep penalties.

Piece of paper ripped, with opening showing the word "TAX"

Tax Advice: Beware of a Stealth Tax on Social Security Benefits

March 24, 2024

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.

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.

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