Buying and Selling Mutual Fund Shares: Avoid These Tax Pitfalls
Planning to buy or sell mutual fund shares? Here are some tax hazards to avoid.
What Tax Records Can You Throw Away?
Did you file an extension until Oct. 15 to file your 2019 tax return? After finishing, you may find yourself with piles of tax-related documents. You might not want to toss them out for fear of trashing something important. Here are some tax recordkeeping guidelines.
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
Why It’s Important To Plan for Income Taxes As Part of Your Estate Plan
With the federal estate tax exemption so large, you may not be worried about estate taxes anymore. But it’s a good time to focus on saving income taxes for your heirs.
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.