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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
UPDATE ON IRS EFFORTS TO COMBAT QUESTIONABLE EMPLOYEE RETENTION TAX CREDIT (ERTC) CLAIMS
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if
FILING JOINTLY OR SEPARATELY AS A MARRIED COUPLE: WHAT’S THE DIFFERENCE?
When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility
3 COMMON FORMS OF INSURANCE FRAUD (AND HOW BUSINESSES CAN FIGHT BACK)
Businesses of all shapes and sizes are well-advised to buy various forms of insurance to manage operational risks. But insurance itself is far from risk-free.
IF YOU GAVE TO CHARITY IN 2023, CHECK TO SEE THAT YOU HAVE SUBSTANTIATION
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if
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