Ken Berry is a nationally-known writer and editor specializing in tax, financial and retirement planning issues. During his long career, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals.
Surprisingly, you may end up better off this year by having your corporation forgo a tax deduction. Strategy: Make this a “dividend year.” In other words,...
The IRS has issued new guidance on an important change for flexible spending accounts (FSAs) beginning in 2013. A $2,500 cap will apply to contributions made to ...
The IRS is making it easier to realize tax benefits for temporary local lodging costs. New proposed regulations allow employees to deduct local lodging expenses that...
Are you planning to sell or donate a boat or car to charity? Don't be too hasty. Arrange a “bargain sale” to a qualified charitable organization. By...
There’s more hope for taxpayers who have to pay the tax bill of an estranged spouse through no fault of their own. The IRS has issued a Notice proposing a new...
It’s bad enough that you have to pay Social Security taxes while you’re working, but you could also get hit with federal income tax on Social Security...
If your company uses the accrual method of accounting for tax purposes, you can deduct accrued year-end bonuses in the current year as long as they are paid within...
If your child is graduating from college or grad school, you’ll want the youngster to start off on the right foot. Strategy: Give your child a low-interest, or...
The tax law generally treats rental real estate properties as “passive activities” that are, by definition, subject to the passive activity limits on...
If you’re embroiled in a contentious legal dispute, taxes may be the last thing on your mind. But errors in the way you draft a settlement agreement could mean...
Work is usually a “family affair” for small business owners. Typically, your spouse will pitch in whenever and wherever help is needed. Strategy: Officially...
Suppose your employees regularly incur business expenses that are not reimbursed by your company. For example, they might personally pay for business travel or tools. If...
The rules for home-office deductions are particularly tough for corporate employees. Even if you legitimately use a home office for business purposes, you may not be...
It’s a common mistake: You might overpay the Social Security tax due to a change in jobs, self-employment or other circumstances. Worst of all, overpayments...
We don’t have to tell you about the skyrocketing cost of gasoline. But you might need a reminder about the tax rules for business travel. Generally, you...
