Computer Software Costs: How Does Your Business Deduct Them?
The tax treatment of computer software costs can be more complicated than you might think. Here are the basic rules.
Adopting A Child? Bring Home a Tax Break Too.
Adopting a child can be expensive. Fortunately, there may be a valuable tax break for parents. Here are the tax credit amounts for 2022 and 2023.
How Inflation Will Affect your 2022 and 2023 Tax Bills
Many people are feeling the squeeze of inflation. What does this mean for your federal tax bill? Here’s what the inflation-adjusted amounts will be for several provisions in 2023, as compared with 2022.
You May Be Liable for “Nanny Tax” for All Types of Domestic Workers
In 2022, if you pay a household worker cash wages of $2,400 or more, you must withhold and pay Social Security and Medicare taxes. What will this amount be for 2023? Here’s the answer, as well as other tax obligations.
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?