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 ...
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 ...
Are You a Tax-Favored Real Estate Professional?
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can ...
Do You Have an Excess Business Loss?
If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Here’s what you need ...
Harness the Power of QuickBooks for Your Business
Accurate financial records help business owners manage cash flow, tax obligations and strategic planning. QuickBooks® is one of the most widely used ...
1099 Filing Season: Are You Ready?
As the year winds down, the clock begins ticking for tax season—and 1099 filing is a key priority. For businesses that work with independent ...
Are You Liable for Two Extra Taxes This Year?
A high income could subject you to two extra taxes: the 3.8% Net Investment Income Tax (NIIT) and the 0.9% additional Medicare tax on wage and ...
Is Your Business Prepared for a Fraud Crisis?
Your business likely has a disaster plan to address fires, natural disasters, or other incidents that could disrupt operations. While a fraud ...