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THE 2024 GIFT TAX RETURN DEADLINE IS COMING UP SOON
If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway. REQUIREMENTS TO FILE
WHEN DO VALUABLE GIFTS TO CHARITY REQUIRE AN APPRAISAL?
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal.
PAY ATTENTION TO THE TAX RULES IF YOU TURN YOUR HOBBY INTO A BUSINESS
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or
SCRUPULOUS RECORDS AND LEGITIMATE BUSINESS EXPENSES ARE THE KEY TO LESS PAINFUL IRS AUDITS
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should
HOW RENTING OUT A VACATION PROPERTY WILL AFFECT YOUR TAXES
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
MAXIMIZE THE QBI DEDUCTION BEFORE IT’S GONE
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
BEWARE OF A STEALTH TAX ON SOCIAL SECURITY BENEFITS
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on
9 TAX CONSIDERATIONS IF YOU’RE STARTING A BUSINESS AS A SOLE PROPRIETOR
When launching a small business, many entrepreneurs start out as a sole proprietor. If you’re launching a venture as a sole proprietorship, you need to
SMALL BUSINESSES CAN HELP EMPLOYEES SAVE FOR RETIREMENT, TOO
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
GET READY FOR THE 2023 GIFT TAX RETURN DEADLINE
Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a