Q: I am selling a vacation home. My daughter owns a lot where I can build a new house. Can I roll over the profit from the old home into the new home tax-free? R.C., Dunwoody, Calif.
Small Business Tax
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
With the economy heating up, the Federal Reserve has indicated it will increase interest rates soon. But how much, and when?
Small business owners like you often face diversification and liquidity problems because most of your wealth is tied up in the company. If your business experiences a serious reversal, your personal assets could be depleted.
Q: I still do some work as a consultant, but I must start taking distributions from my IRA before April 1 of next year. If I convert to a Roth IRA this year, can I avoid taking the distribution (and the resulting tax)? R.A., Duluth, Minn.
Q: We took out a $320,000 mortgage to buy our home several years ago. We recently used inheritance money to pay off the $220,000 balance on the mortgage. Our house is now worth around $700,000. If we take out a new mortgage for $400,000, can we deduct all of the mortgage interest we'd pay? L.M.S., Montvale, N.J.
The Senate approved a long-stalled bill on May 11 that would end a trade dispute with Europe and shower U.S. corporations with several new tax breaks, including reduced income taxes for manufacturers.
Taxpayers are receiving better and faster service at IRS offices around the country, according to a study by the Treasury Department's inspector general.
IRS bigwigs are predicting increased audit activity of employer retirement plans.
Take home more pay. If your teen works a summer job, taxes can put a dent in his or her take-home pay.