Providing Fringe Benefits to Employees with No Tax Strings Attached
Your business may provide low- or no-cost tax-free fringe benefits to employees. Here are the details of these benefits, along with a court case in which an employee was found to have received a taxable benefit but he didn’t include its value in his income.
Tax and Other Financial Consequences of Tax-free Bonds
Do you want to add municipal bonds to your portfolio? Here are some of the tax consequences.
Investing in the Future with a 529 Education Plan
The cost of college has risen steeply in recent years so families are wise to begin saving early. Here’s how 529 plans can help you save on a tax-advantaged basis.
Year-end Tax Planning Ideas for Individuals
By planning ahead now, you may be able to save on your 2022 and 2023 tax bills. Here are some ideas to consider.
2022 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
It’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think about the fourth quarter 2022 tax filing deadlines.
Seller-Paid Points: Can Homeowners Deduct Them?
In general, points a BUYER pays in a home sale are a tax-deductible interest expense. But what about SELLER-paid points?
Is Your Income High Enough to Owe Two Extra Taxes?
There are two special taxes that may have a significant effect on the tax bills of high-income folks: the 3.8% net investment income tax and a 0.9% additional Medicare tax on wage and self-employment income. Here are the basic rules.
The Inflation Reduction Act: What’s In It For You?
If you’re interested in purchasing energy-saving property for your home or an electric vehicle, you may qualify for a tax break under the new Inflation Reduction Act. Here are the basic rules.
Self-Employed? Build A Nest Egg With A Solo 401(k) Plan
If you run a one-person small business, you might be able to build a bigger retirement nest egg with a solo 401(k) plan. Here are the basic rules.
An “Innocent Spouse” May Be Able To Escape Tax Liability
In some cases, a married couple files a joint tax return and one spouse is unaware of all the income of the other spouse. The spouse who is in the dark still must generally pay the tax bill even if the couple divorces. But there may be “innocent spouse” relief.