In 2024, if you pay a household worker cash wages of $2,700 or more, you must withhold and pay nanny tax. What will the threshold be in 2025?
Individuals
Your Weekly Read
Can homeowners deduct seller-paid mortgage points?
When you buy a house, can you deduct seller-paid points on your tax return? Here are the rules.
Making the most of the home sale gain exclusion
Considering downsizing your home or moving? If so, be sure to check whether you’ll qualify for the tax-saving home sale gain exclusion.
Is your home office tax deductible? Here are the rules
While many people work from home, not everyone qualifies for home office deductions. Here are the rules for eligibility.
Understanding the $7,500 federal tax credit for buying an electric vehicle
Interested in buying a plug-in electric vehicle? You may be eligible for a valuable federal tax credit. Here are the rules.
How are Series EE savings bonds taxed?
If you own Series EE bonds, take a look at the issue dates to see if the bonds are no longer earning interest. Here’s how bond interest is taxed.
What might be ahead due to expiring tax provisions?
What’s on the tax horizon as many Tax Cuts and Jobs Act provisions get closer to their scheduled expiration date? Here are four possible scenarios.
Six tax issues to consider if you’re getting divorced
Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.
Use a Qualified Charitable Distribution to avoid taxable IRA withdrawals
Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.
The tax consequences of selling mutual funds
Investing in mutual funds is popular, but selling shares may result in complicated tax matters. Here are the rules.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
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