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Tax Depreciation Rules for Business Automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated and special limitations that apply to vehicles classifie... Read More »

What are Your Options to Pay for Long-Term Care?

Too often, people planning their estates focus on tax and asset-protection issues and overlook long-term health care needs. The high cost of long-term care (LTC) can quickly devour resources you ne... Read More »

Associations Should Prioritize Common Interests, Not Individual Services

Watch out, nonprofit trade associations! If your group is a 501(c)(6) organization, your activities could potentially threaten your tax-exempt status. To ensure you’re in compliance with IRS ... Read More »

Selling a Home: Will You Owe Tax on the Profit?

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of 2021 rose 17.8% over J... Read More »

Tax Breaks to Consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. 1.  &nb... Read More »

3 Essential Estate Planning Strategies Not to be Ignored

With most tax planning, there are certain strategies that are generally effective and shouldn’t be ignored. The same holds true for estate planning. Here are three essential estate planning s... Read More »

Even Nonprofits can Benefit from AI Technology

You might think that artificial intelligence (AI) is just about using computers to perform complex tasks that otherwise would require human intelligence. That’s part of AI, but several tech... Read More »

Planning for Year-End Gifts with the Gift Tax Annual Exclusion

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and lo... Read More »

Give Your Staffers a Break with an Accountable Plan

Accountable plans reimburse employees for work-related expenses free of federal income and employment taxes. Reimbursement payments aren’t subject to withholding from staffers’ payche... Read More »

You Can Only Claim a Casualty Loss Tax Deduction in Certain Situations

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your h... Read More »
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