The Advantages of Using an LLC for Your Small Business
If you operate your small business as a sole proprietorship, you may have considered forming a limited liability company (LLC) to protect your ...
Moving Mom or Dad into a Nursing Home? 5 Potential Tax Implications
More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking ...
Pocket a Tax Break for Making Energy-efficient Home Improvements
According to the National Weather Service, an estimated 190 million Americans have recently been under heat advisory alerts. That may have spurred ...
IRS Provides Transitional Relief for RMDs and Inherited IRAs
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking ...
Individuals Who Travel for Business May Be Eligible for Tax Deductions
Many people travel for their job — some for an occasional conference and some travel year-round. Whatever their time on the road, business travelers ...
What’s in the Fiscal Responsibility Act?
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). ...
Four Tax Challenges You May Encounter When Retiring
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. ...
Trust Fund Recovery Penalty: Who Can It Be Assessed Against?
If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The Trust Fund Recovery ...
Strategies to Reduce the Impact of the Net Investment Income Tax
High-income taxpayers often face the burden of paying the Net Investment Income Tax (NIIT) in addition to their regular income tax. The NIIT is a ...