Can Investors Who Manage Their Own Portfolios Deduct Related Expenses?
Are you an investor or a trader? While trader status is difficult to achieve, if a taxpayer qualifies, he or she can deduct investment-related expenses.
Tax Implications of Working From Home & Collecting Unemployment
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
Employers Have Questions & Concerns About Deferring Employees’ Social Security Taxes
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.
Back-to-school Tax Breaks on the Books
Back to school in the COVID-19 era may mean remote learning for your college student. But parents may be able to take advantage of one of these tax breaks for their education expenses.
Will You have to Pay Tax on Your Social Security Benefits?
After paying into Social Security for all your working years, you may be surprised to learn that the benefits may be taxed in retirement. Here are the rules.
What Happens if an Individual Can’t Pay Taxes?
Tax liabilities don’t go away if left unaddressed. Here’s a look at what happens in the event you (or someone you know) can’t pay taxes on time.
Possible Tax Consequences of PPP Loans
Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.
The Tax Implications of Employer-provided Life Insurance
Employer-provided group term life insurance can be a nice employee benefit. But depending on the amount of coverage, it may cause an unwanted tax result. Here’s why.
Are Scholarships Tax-free or Taxable?
Scholarships are generally tax-free but there are times when academic awards result in taxable income.
Take Advantage of a “Stepped-up Basis” When You Inherit Property
If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the fair market value basis rules (also known as the “step-up and step-down” rules). That way, you won’t pay more tax than you’re legally required to.