Innocent Spouse Tax Liability Relief
If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you […]
Income Tax Planning as Part of Your Estate Plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal […]
Deductibility of Portfolio Management and Related Expenses
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax […]
Can Homebuyers Deduct Seller-Paid Points?
Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year. One of the […]
Tax Implications of Working from Home
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations […]
Are Social Security Benefits Taxed?
If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will […]
More Parents May Owe “Nanny Tax” This Year
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This means that more […]
Tax Implications of Employer-Provided Life Insurance
Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit may […]
What Happens When You Can’t Pay Your Taxes?
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you can’t pay your taxes […]
Stepped-Up Basis of Inherited Property
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Generaly, there […]
