In a recent case, a retired police detective claimed that a portion of his vacation time pay had accrued under a workers’ compensation law while he was on temporary disability leave, so it should be tax free. But the Tax Court had other ideas.
Q. My son was just downsized from his job. If he rolls over his 401(k) into a Roth IRA, is it taxable?
The IRS has announced that individual taxpayers will get a few extra days to file their 2015 federal income tax returns in 2016.
Are you looking for a tax-favored investment that serves a valuable public need? Strategy: Investigate real estate that generates low-income housing credits.
Q. We pay a live-in to help my elderly mom with daily living. Can we claim her as a dependent?
Q. I elected early Social Security benefits. If I withdraw money from my IRA, will this reduce my benefits?
Crazy as it seems, you may fare better in 2015 if your corporation forgoes a deduction for certain amounts.
It’s summertime and the tax livin’ is easy. By making timely tax moves for your business and personal life, you can reduce your 2015 tax bill on both fronts.
A potentially more costly provision for “Cadillac plans” is just down the road. This is the term used to describe high-cost health insurance plans with top-of-the-line benefits.
Q. Can I waive the rights to the American education credit to my son in college?