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UNDERSTAND THE $7,500 ELECTRIC VEHICLE TAX CREDIT
Electric vehicles (EVs) have become increasingly popular. According to Kelley Blue Book estimates, the electric vehicle share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible
DEFER A CURRENT TAX BILL WITH A LIKE-KIND EXCHANGE
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is
ANSWERS TO YOUR TAX SEASON QUESTIONS
The IRS announced it will open the 2024 individual income tax return filing season on January 29. That’s when the tax agency will begin accepting
THE STANDARD BUSINESS MILEAGE RATE WILL BE GOING UP SLIGHTLY IN 2024
The optional standard business mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per
IT’S POSSIBLE (BUT NOT EASY) TO CLAIM A MEDICAL EXPENSE TAX DEDUCTION
One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you deduct your
3 TYPES OF INTERNAL BENCHMARKING REPORTS FOR BUSINESSES
As each year winds to a close, owners of established businesses can count on having plenty of at least one thing: information. They have another
CAN YOU DEDUCT STUDENT LOAN INTEREST ON YOUR TAX RETURN?
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for
RECEIVE MORE THAN $10,000 IN CASH AT YOUR BUSINESS? HERE’S WHAT YOU MUST DO
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for
DISABLED FAMILY MEMBERS MAY BE ABLE TO BENEFIT FROM ABLE ACCOUNTS
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for
STATE ESTATE & INHERITANCE TAXES FOR 2023
In 2023, the federal estate tax exemption increased to $12.92 million for individuals or $25.84 million for married couples. Due to the high amount of