Midyear Tax Planning Tips For Individuals & Families
Summer is a good time to review whether your income, deductions, and investment activities are lining up as expected and determine if you qualify for these tax saving opportunities. Your
Find What Your Looking For
Category: Tax
Cash vs. Accrual Accounting Methods for Small Businesses
An important consideration for small business owners is whether to use the cash or accrual accounting methods for federal income tax purposes. For larger entities, the accrual method is required.
What Retirees Should Know About Social Security Benefits & Taxes
The new tax deduction for taxpayers age 65 and older was sometimes referred as “no tax on Social Security” last year. However, this deduction of up to $6,000 per individual,
S Corporation Vs. LLC: Which Entity Type Fits Your New Business?
Start-ups have many decisions to make, and choosing a legal entity is one of the most important. Your entity type affects how your business is taxed, how profits and losses
Could Your Home Sale Trigger Capital Gains Tax?
In many areas of the country over the last several years, home values have risen significantly, often leaving homeowners with substantial gains after they sell. While a large profit is
Side Gig Or Hobby? IRS Rules For Side Gig Tax Deductions
If you have a side gig such as an online crafting store or a guitar gig at a local venue in addition to your regular day job, you’ll need to
Tax Considerations After A Job Loss
Even when unemployment is relatively low, job loss can affect workers across many industries. In May 2026, the U.S. unemployment rate was 4.3%, according to the U.S. Bureau of Labor
1031 Like-Kind Exchange: Four Misconceptions For Real Estate Owners
If you own commercial real estate as a real estate developer or a small business owner and are thinking about potentially selling a property, a Section 1031 like-kind exchange may
Kiddie Tax Rules for Children With Investment Income
An assumption often made by parents about the so called “kiddie tax” is that it only applies to minors, while some parents may not even know it exists. However, the
Five Self-Employed Tax Deductions You Should Know
It’s common to have questions about deducting business expenses on your federal income tax return if you’re self-employed. Take a look at five self-employed tax deductions that are commonly overlooked