Pay attention to the tax rules if you turn a hobby into a business
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open […]
Business, Taxes
Taxes
Taxes
Taxes when you sell an appreciated vacation home
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about
Estate Planning, Taxes
Watch out for “income in respect of a decedent” issues when receiving an inheritance
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may
Taxes
The pros and cons of turning your home into a rental
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In
Taxes
Keep these 3 issues in mind after you file your return
The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can
Taxes
The tax deadline is almost here: File for an extension if you’re not ready
The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes,
Estate Planning, Retirement, Taxes
Update on retirement account required minimum distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required
Taxes
How renting out a vacation property will affect your taxes
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to
Taxes
Beware of a stealth tax on Social Security benefits
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the
Business, Taxes
A job loss is bad but the tax implications could make it worse
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in