Retirement account catch-up contributions can add up
July 20, 2023
If you’re eligible and not making catch-up contributions to your retirement plan, you’re missing out on building more tax-favored savings. Here are the rules of the road.
Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis”
July 12, 2023
When planning your estate or inheriting assets, it’s essential to understand the “step-up” basis rules. They can affect the taxes due on the sale of the assets.
Use an S corporation to mitigate federal employment tax bills
July 11, 2023
Converting an unincorporated business into an S corporation may help you cut your self-employment tax bill. Here’s how.
When can seniors deduct Medicare premiums on their tax returns?
June 14, 2023
Seniors who have Medicare insurance (including supplemental) know that it can be costly to get the desired coverage. If this is your situation, you may be able to deduct the cost of premiums, along with other medical expenses, on your tax return.
Advantages and disadvantages of claiming big first-year real estate depreciation deductions
June 12, 2023
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may seem simple. But there are a number of factors to consider.
Traveling for business this summer? Here’s what you can deduct
June 6, 2023
Here’s a rundown of the tax deductions you can claim for business travel.
