Q: I own real estate that I plan to sell to my son through an installment sale. My CPA says this can't be done because we're related parties. Is this true? D.R.T., St....
During an audit, chances are that you won't be able to produce all the receipts, bills or other pieces of written information you'll need to back up your claims,...
Close relationships between your organization and its vendors or
partners probably are thought of as a good thing. But here are a couple
of pitfalls you should know...
Issue: A recent court ruling says certain employment personality tests may violate the ADA. Risk: If your test screens out people with mental disorders, it could be...
Issue: Protect your right to keep communications between the organization and its attorney secret. Risk: By misdirecting e-mail messages meant for your attorney, you...
Do your aging parents live in a home that's soared in value? Chances are, they've paid off the house, so they're not claiming mortgage interest deductions anymore. Even...
Q: My daughter is switching jobs in a few weeks. She's accumulated about $20,000 in her 401(k) plan. Does her employer have to automatically roll the money into a Roth...
Do you run a business through two or more related companies? These days, it's not unusual for people to own multiple operations. But you could be inadvertently paying...
Sooner or later, you may decide to sell off your S corporation and retire. If you run a family shop, you may plan to sell your stock to younger family members who are...
Question: “We have several rental properties, and I track payments, late
charges, customer information, etc., on an Excel spreadsheet. Included
on the...
Q: My wife was just laid off from her job. She was told she'd receive a package in the mail about COBRA health insurance. It's been more than a week, and it hasn't...
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...
Q: My husband died in an accident, and we received an accidental death benefit from his company's insurance plan. Is this benefit subject to estate tax? I'm receiving...
You never want your tax return to stick out like a sore thumb at the IRS. That's why it's good to know whether your deductions fall within the national averages.
Q: I am 72 and work part time. I earned $15,000 from my part-time job last year. Can I contribute to an IRA for the 2003 tax year? D.W., Jacksonville, Fla.
If you took out a home-equity loan last year and injected the resulting cash into your pass-through business (sole proprietorship, S corps, partnership or LLC), you can...
If you run your business as a husband/wife partnership, you're forced to fill out a complicated Form 1065 (U.S. Return of Partnership Income) every year. But if you live...
Q: In a recent item in your newsletter, you said that sole proprietors, partners and LLC members can use the per-diem method for reimbursing meals and incidental...
