Feeling Generous at Year End? Strategies for Donating to Charity or Gifting to Loved Ones.
Feeling generous this year? Here are the basic rules for charitable contributions and gifts to loved ones.
Factor in Taxes if You’re Relocating to Another State in Retirement
Moving closer to family members and taking advantage of warmer weather are just two reasons why many people retire to another state. Don’t forget to consider state and local tax implications before you make a move.
Get Your Piece of the Depreciation Pie Now With Cost Segregation Study
Your business may gain substantial tax benefits with a cost segregation study, but they’re not right for everyone. Here’s how this strategy can help accelerate depreciation tax deductions on the building that houses your operation.
Vacation Home: How Is Your Tax Bill Affected If You Rent it Out?
A special federal income tax break is available if you rent your vacation home for less than 15 days during the year. Here are the rules.
Navigating The Tax Landscape When Donating Works of Art to Charity
Are you an artist or collector interested in donating artwork to charity? Here are the basic rules to claim a tax deduction for your generosity.
The Tax Score of Winning
Whether you win money gambling online, playing at a casino or participating in a sports betting activity, there are tax implications. Here are the basic rules that winners should understand.
Tax Depreciation Rules for Business Automobiles
Claiming depreciation deductions for a passenger automobile can involve complex calculations. Here are the basic rules.
Selling a Home: Will You Owe Tax on the Profit?
If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
Planning for Year-end Gifts with the Tax Annual Exclusion
There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.
You Can Only Claim a Casualty Loss Tax Deduction In Certain Situations
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).