Meet extended tax filing deadlines

  • June 04, 2018

For most people, the deadline for filing tax returns for the 2017 tax year is a memory, but the clock is still ticking for others. Alert: The IRS recently reminded...

Tax News: June ’18

  • June 01, 2018

Thoroughly modern IRS ... A breed apart ... Read the book ... Blended tax rates ... Hang up on phone scam

Don’t punt away booster club donations

  • May 30, 2018

This may be the time you usually donate to a booster club for your alma mater or local school you root for. Strategy: Make your donation with no strings attached....

Bolster medical deduction for support

  • May 28, 2018

Suppose you support an elderly relative such as a parent, in-law or favorite aunt or uncle. Unfortunately, however, you get no tax benefit for your support. Strategy:...

Tap tax brakes on vehicle trade-in

  • May 24, 2018

It used to be that you could trade in one business vehicle for another without any dire tax consequences. But now the new Tax Cuts and Jobs Act has turned the tax rules...

4 ways to cut down kiddie tax

  • May 21, 2018

The new Tax Cuts and Jobs Act changes the way that the kiddie tax is calculated, beginning in 2018. The revised rules will frequently produce a bigger tax than the...

Get summer tax break for biz travel

  • May 17, 2018

Do you need a break from your busy schedule? There may be a way to take off this summer and have your business deduct the lion’s share of the cost.

Small Business Tax Q&A: May ’18

  • May 14, 2018

New tax break for going solo ... A house sale divided still stands ... Do the math on Social Security ... Charity may begin at work

3 new perks for ABLE accounts

  • May 03, 2018

Beginning in 2018, the Tax Cuts and Jobs Act gives a boost to tax-advantaged accounts for disabled individuals.

Tax News: May ’18

  • May 01, 2018

Tax on Olympic medals? ... When your personal tax information airs on the radio ... Phishing bait for tax pros ... No more mercy for foreign accounts

Salvage casualty loss for personal car

  • April 30, 2018

Suppose your spouse’s car was damaged when he or she skidded on a slick road in April. It’s going to cost you $3,000 out-of-pocket to repair. But you can’t claim a...

IRS tightens rules for carried interest

  • April 27, 2018

The new Tax Cuts and Jobs Act makes it tougher for certain taxpayers to cash in on a tax break for “carried interests,” but left the door slightly open. In a new...

Find loophole for home equity debt

  • April 20, 2018

The new tax law cracks down on mortgage interest deductions for home equity loans. But there’s a way you can tilt the new rules to your tax advantage.

IRS extends casualty loss safe-harbor

  • April 09, 2018

Does your home have cracks in its foundation? Depending on the cause, you may qualify for a casualty loss deduction on your 2017 return.

Keep estate tax exemption portable

  • April 06, 2018

Wealthy married couples have the extra tax advantage of exemption portability. Strategy: Ensure a proper “deceased spousal unused exemption” election. Any unused...

Tax News: April ’18

  • April 01, 2018

Find a tax pro ... New estate tax figure ... IRS getting a bigger budget? ... The best and worst states for tax business ... The employer mandate is still alive