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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.

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.

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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.

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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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