Step-Up in Basis: A Powerful Estate Planning Tool
Inheriting assets from a loved one can come with a significant—but often misunderstood—tax benefit known as the step-up in basis. This provision can ...
Why Industry Risk Matters in Business Valuation
When valuing a private business, IRS Revenue Ruling 59-60 remains one of the most foundational guides for determining value. Among the key factors it ...
Avoid Estimated Tax Surprises
If you're self-employed, run a small business, or earn rental or investment income, quarterly estimated tax payments may be critical to your tax ...
Selling Your Vacation Home? Tax-Smart Strategies to Consider
In many popular vacation destinations, property values and insurance costs have soared. If your vacation home has appreciated significantly, now may ...
IRS Expands Theft and Fraud Loss Deductions
The Tax Cuts and Jobs Act (TCJA) significantly restricted the types of theft losses that can be deducted on federal income tax returns. However, a ...
Planning Ahead: 5 Succession Strategies and Their Tax Implications
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders ...
Turning Market Losses into Tax Opportunities
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While such ...
Payroll Tax Pitfalls: 6 Things Small Businesses Should Know
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal ...
In the News: 3 Fraud Schemes Making a Comeback
Fraud schemes are always evolving. Once frauds are widely publicized and consumers and businesses learn to spot common scams, enterprising criminals ...