Tax Rules of Renting out a Vacation Property
Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting […]
What to Do When Your Identity is Used to File a Fraudulent Tax Return
In Fact Sheet 2022-25, the IRS has provided information about how taxpayers should handle non-tax and tax-related identity theft.
When a taxpayer believes their […]
When Inheriting Money, Be Aware of “Income in Respect of a Decedent” Issues
Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain types of property, such […]
Lost Your Job? Here are the Tax Aspects of an Employee Termination
Despite the robust job market, there are still some people losing their jobs. If you’re laid off or terminated from employment, taxes are probably the last thing […]
SB 113 Provides Additional Relief from SALT Deduction Limits
Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals […]
Are You Ready for the 2021 Gift Tax Return Deadline?
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax […]
Why Would Married Couples File Separate Tax Returns?
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation.
Make Sure You Have Substantiation For Your Charitable Donations
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t […]
Tips to Speed Tax Return Processing
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips […]
Help Safeguard your Personal Information by Filing your 2021 Tax Return Early
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even […]
