Investing in mutual funds is popular, but selling shares may result in complicated tax matters. Here are the rules.
Individuals
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You may be entitled to tax breaks if caring for an elderly relative
If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.
When do valuable gifts to charity require an appraisal?
If you donate valuable assets to charity and don’t follow certain requirements, the charitable tax deduction may be denied. Here are some answers to questions about how to protect your deductions.
Taxes when you sell an appreciated vacation home
If you own a vacation home, perhaps you’re ready to sell it. What are the tax implications? Here are the rules if you sell at a profit.
Filing jointly or separately as a married couple: What’s the difference?
Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.
Keep these 3 issues in mind after filing your tax return
Once your 2023 tax return has been filed, you can breathe a sigh of relief. But there still may be some tax issues to consider. Here are three of them.
The tax deadline is almost here: File for an extension if you’re not ready
The April 15 tax deadline is approaching, but what if you’re not ready to file? There are some simple steps you can take to avoid steep penalties.
Get ready for the 2023 gift tax return deadline
April 15 isn’t only the income tax return deadline, it’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2023 gift tax return. (Note: You may want to file one anyway).
Update on retirement account required minimum distributions
The SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules.
How renting out a vacation property will affect your taxes
Many people who own vacation homes rent them out to earn extra income. Even better, renting them out may provide tax breaks. 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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