Five Tax Considerations for When a Parent Moves into a Nursing Home
If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five such considerations.
If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five such considerations.
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new
More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org. If you have student loan debt, you may wonder
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer
If you are planning your estate, or you have recently inherited assets, you may be unsure of the ‘cost’ (or ‘basis’) for tax purposes. The Current Rules Under the current
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. Census Bureau reports
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction, or
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. Even though a small percentage of
There is a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It is called the “Trust Fund
Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses, and clerical costs? Under current tax law, these expenses are not deductible through