It May Be Difficult to Deduct Student Loan Interest
More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group
“Stepped-Up Basis” on Inherited Property – Will it Last?
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Can Taxpayers Who Manage Their Own Investment Portfolios Deduct Related Expenses?
Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs? Under current tax law, these expenses aren’t […]
IRS Audits May Be Increasing, So Be Prepared
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. […]
Can Non-Working Spouses Contribute to an IRA?
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that […]
Seniors May Be Able to Write Off Medicare Premiums
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage […]
Tax Favored Ways to Build up a College Fund
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to […]
Retiring Soon? 4 Tax Issues You May Face
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications.
Advance Child Tax Credit Payments Begin July 15th
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in […]
Still Have Questions After Filing Your 1040?
Even after your 2020 tax return has been successfully transmitted to the IRS, you may still have questions after filing your return. Here are […]
