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 ...
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 ...
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 ...
Small Business Alert: The 100% Penalty That Hits Hard
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from ...
Can I Itemize Deductions on My Tax Return?
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they ...
A Heavy Vehicle Plus a Home Office Equals Tax Savings
New and used “heavy” SUVs, pickups and vans placed in service in 2025 are potentially eligible for significant first-year depreciation write-offs. ...