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).
Getting a Divorce? Be Aware of Tax Implications if You Own a Business.
Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
ABLE Accounts May Help Disabled or Bling Family Members
Do you have a disabled family member that you’d like to help out financially but you don’t want them to lose eligibility for their government benefits? You may be able to use a tax-advantaged ABLE account.
Scholarships Are Usually Tax Free But They May Result in Taxable Income
If your child receives a scholarship, is the amount taxable income? Here are the rules.