Monthly Update

Family Businesses Must Beware of Fraud Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as companies that are majority owned by a single family with two or more family members involved in their management, family businesses can be a […]

Most people feel a sense of relief after filing their income tax returns each year. But even if you’ve successfully filed your 2022 return with the IRS, there may still be some issues to bear in mind. Here are three important things to know: 1. You can check on your refund. The IRS has an […]

Thinking About Converting Your Home Into A Rental Property? In some cases, homeowners move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the financial risks and rewards. However, you also should know that renting out your home carries potential tax benefits […]

Protect Your Business With Meticulous Business Deduction Records If you run a business, you know that you need to support expenses with detailed records. To be deductible, every expense on your tax return might have to be defended if your company is subject to an audit. Plus, failing to operate in a businesslike manner, complete […]

SECURE 2.0 Law May Make You More Secure In Retirement A new law was recently signed that will help Americans save more for retirement, though many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) is meant to build on the original […]

6 Key Tax Questions for 2023 Right now, you may be more concerned about your 2022 tax bill than you are about how to handle your personal finances in the new year. However, as you deal with your annual tax filing, it’s a good idea to also familiarize yourself with pertinent amounts that may have […]

What’s Your Taxpayer Filing Status? For many people, December 31 means a New Year’s Eve celebration. However, from a tax perspective, it’s a key date in determining the filing status you’ll use when filing your tax return for the year. The one you’ll use depends partly on whether you’re married on that date. The five […]

Year-end Gifts And The Gift Tax Annual Exclusion With the holidays and year-end approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using your gift tax annual exclusion, those gifts can reduce the size of your taxable estate. For 2022, the annual exclusion is $16,000. […]

Do you have significant investment-related expenses, including payment for financial service subscriptions, home office maintenance and clerical support? Under the 2017 Tax Cuts and Jobs Act, these expenses aren’t deductible if they’re considered investment expenses to produce income.

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money.