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WHEN THE SALE OF AN APPRECIATED HOME TRIGGERS TAXES – AND WHEN IT DOESN’T
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in
TAX COURT CASE PROVIDES LESSONS ON BEST RECORDKEEPING PRACTICES FOR BUSINESSES
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance
THE POWER OF CATCH-UP RETIREMENT ACCOUNT CONTRIBUTIONS AFTER 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And
PAYROLL TAX IMPLICATIONS OF NEW TAX BREAKS ON TIPS AND OVERTIME
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes
NEW RULES COULD BOOST YOUR R&E TAX SAVINGS IN 2025
A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA)
A TAX GUIDE TO CHOOSING THE RIGHT BUSINESS ENTITY
One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how
MILESTONE MOMENTS: HOW AGE AFFECTS CERTAIN TAX PROVISIONS
They say age is just a number — but in the world of tax law, it’s much more than that. As you move through your
THE NEXT ESTIMATED TAX PAYMENT DEADLINE IS COMING UP SOON
If you make quarterly estimated tax payments, the amount you owe may be affected by the One Big Beautiful Bill Act (OBBBA). The law, which
IS COLLEGE FINANCIAL AID TAXABLE? A CRASH COURSE FOR FAMILIES
College can be expensive. According to the College Board, the average sticker price for tuition and fees at private colleges was $43,350 for the 2024–2025
DIGITAL ASSETS AND TAXES: WHAT YOU NEED TO KNOW
As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal