You can only claim a casualty loss tax deduction in certain situations
September 1, 2021
The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).
COVID-related leave-sharing programs remain viable
August 30, 2021
Employers offering or considering leave-sharing programs related to COVID-19 charities should read up on recent IRS guidance.
Getting a divorce? Be aware of tax implications if you own a business
August 24, 2021
Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
Leave tax credits are available for employees who help others get vaccinated
August 23, 2021
Employers may be able to claim paid sick leave or paid family leave credits for employees who help others get vaccinated. However, there are strict eligibility criteria.
ABLE accounts may help disabled or blind family members
August 19, 2021
Do you have a disabled family member that you’d like to help out financially but you don’t want them to lose eligibility for their government benefits? You may be able to use a tax-advantaged ABLE account.
Scholarships are usually tax free but they may result in taxable income
August 11, 2021
If your child receives a scholarship, is the amount taxable income? Here are the rules.
