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Business automobiles

2 min read

Business automobiles: How the tax depreciation rules work

Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are...

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Tax for renting vacation home

2 min read

The tax implications of renting out a vacation home

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains, or in a resort...

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nursing home and tax implications

2 min read

Moving Mom or Dad into a nursing home? 5 potential tax implications

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking...

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Tax code to make business losses less painful

2 min read

Use the tax code to make business losses less painful

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing...

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what to do with Sizable Inheritance

2 min read

You’ve received a sizable inheritance: Now what?

If you’ve received, or will soon receive a significant inheritance, it may be tempting to view it as “found money” that can be spent freely. But...

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Business expenses

2 min read

Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete...

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Revocable Trust

1 min read

Is Your Revocable Trust Fully Funded?

A revocable trust — sometimes known as a “living trust” — can provide significant benefits. They include the ability to avoid probate of the assets...

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research activities

2 min read

The election to apply the research tax credit against payroll taxes

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to...

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charitable giving

2 min read

Did you give to charity in 2021? Make sure you have substantiation

If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what...

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Investment

2 min read

Sec. 529 vs. Roth IRA plans - Choosing a college savings tool

Many people assume that a Section 529 plan is the ideal college savings tool. But the Roth IRA can also help parents save for college expenses. This...

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Financial Assistance

2 min read

Intrafamily loans offer family value

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