If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.
Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IRS. Here are the rules.
Fresh IRS guidance is available for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.
There are several options for operating your small business. For example, a sole proprietorship, an S corporation or a partnership. Take a look at why a limited liability company (LLC) might be right for you.
If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Here are the rules.
Have you inherited assets or are you planning your estate? If so, it’s crucial to understand the current “step-up” basis rules and why they might change.