The Build Back Better Act is one step closer to becoming law as it passes the U.S. House.
Take these 2022 cost-of-living amounts into consideration as you work on your year-end tax planning.
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.
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.
In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?
How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing[ … ]
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care costs, claiming whatever tax breaks related to health[ … ]
Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments • you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold investments at a gain this year, consider selling some losing[ … ]