Soak up summer hiring credits

  • March 30, 2018

Hire youths eligible for the “summertime” version of the Work Opportunity Tax Credit. It can be claimed for workers age 16 or 17 who reside in an empowerment zone or...

4 ways to boost depreciation

  • March 26, 2018

If qualified property is acquired and placed in service in 2018, you can benefit from enhanced “expensing” and other Tax Cuts and Jobs Act provisions relating to...

6 extenders for ’17 returns

  • March 21, 2018

The new Bipartisan Budget Act of 2018 (BBA), which extended funding of the federal government, also revived around 30 tax provisions that had expired at the end of 2016....

IRS issues new passport rules

  • March 13, 2018

If you’ve booked a flight to a foreign country, it’s important to check that all your documents are in order. Strategy: Make sure that your federal income taxes are...

Make the tax grade on student loans

  • March 07, 2018

Did you or your child pay interest on a student loan last year? In that case, you may realize a tax benefit on your 2017 return.

Tax News: March ’18

  • March 01, 2018

What happens to your refund if the government shuts down again? ... The IRS website has changed ... SALT-free diet ... The color purple ... Another tax resurrection

Check up on medical deduction

  • February 21, 2018

Although the Tax Cuts and Jobs Act notoriously cuts back certain deductions and wipes out others, it actually liberalizes the medical expense deduction for 2017 and 2018.

Last chance for 6 deductions

  • February 20, 2018

This may be the last year you get the full tax benefit of certain tax deductions, thanks to the Tax Cuts and Jobs Act.

Records needed for business travel

  • February 15, 2018

The IRS is tough on deductions for travel expenses. Without the proper records to back up your claims, it might reduce or completely deny your write-offs. And it usually...

Spotlight 15 personal tax changes

  • January 23, 2018

The Tax Cuts and Jobs Act enhances and creates numerous tax breaks for individual taxpayers, but repeals or scales back a slew of others. It’s going to take time to...

Medical deduction denied

  • January 18, 2018

Medical expenses must be incurred primarily to alleviate or prevent a physical or mental defect or illness. They don’t include costs that are simply beneficial to your...

2018 Tax Calendar

  • December 07, 2017

Keep this tax calendar handy for reference, when needed, during the year.

Sidestep this installment sale trap

  • November 24, 2017

If you’re looking to sell real estate, you may have to structure the deal to make it acceptable to the buyer. But this could work to your tax advantage.

Prove your gambling losses

  • October 19, 2017

Frequently, gambling loss deductions are denied because taxpayers fail to keep the records required for write-offs. In a pinch, you might resort to the “Cohan...

U.S. Savings Bonds: A tax education

  • October 12, 2017

Areader recently wrote us about a tax dilemma. “We bought U.S. Savings Bonds for my daughter when she was born and she also received Series EE Bonds as gifts. Now...

Park property in like-kind exchange

  • September 19, 2017

Pulling off a like-kind exchange under Section 1031 is often easier said than done. Usually, the owner of property you have your eyes on isn’t interested in any...

3 good ideas for bad debts

  • September 14, 2017

Are you having trouble collecting money for goods or services your business has provided? Consider these three strategies for securing bad-debt deductions.

Focus on constructive dividends

  • July 19, 2017

Although dividends paid by C corporations are taxable to the extent of the company’s earnings and profits (a tax term of art), they generally are eligible for...

Face tax reality for fantasy sports

  • July 14, 2017

Fantasy sports is sweeping the nation. It can range from casual leagues just for fun to heavy betting for high stakes. Strategy: Learn the tax consequences. If you...