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.
Stimulus checks are already arriving in mailboxes and bank accounts, but not everyone who receives a stimulus check needs the money. Part of the recent CARES Act, these stimulus checks include $1,200 for single filers or $2,400 for joint filers, plus $500 for each dependent child under age 17. The amount of the payment is[ … ]
You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not be the case anymore. Here’s why.
Verify that a charity is eligible to receive tax-deductible contributions before you donate Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. But before you donate, it’s critical to make sure[ … ]