Even though the deadline for filing 2023 income tax forms is months away, the time to consider certain tax-related matters is now—before the year ends....
Taxes
All Taxes Articles
Six Tax-Saving Opportunities
Scattered throughout the Tax Code are oft-overlooked opportunities to trim your tax bill—or even score a free lunch. But if you wait until tax-filing deadlines...
Giving a Gift? Avoid These Tax Reporting Mistakes
If you give someone a big gift, the IRS will have a gift for you, too—a tax form that’s a lot trickier than it appears....
Time to Prepare
Certain tax code changes taking effect now could impact the financial decisions you make throughout the rest of this year. Bottom Line Personal asked tax...
Protect Your Profits
Thinking of selling your house? Not surprisingly, the IRS wants its share. Over the past five years, home prices have jumped an average of 9%...
Thinking About Selling Your Business?
The sale of a business can be a pivotal event in an entrepreneur’s life—years of hard work can produce a big payday for the business...
Lessons From US Tax Court
Taxpayers beware! Much of the $80 billion in new funding for the Internal Revenue Service will be used to scrutinize your tax return. Result: Hundreds...
The IRS Is Watching How You Give Money to Family
Taxpayers often act as if intra-family transactions are private, informal affairs free from any outside oversight—after all, spouses typically can transfer assets between themselves without...
More Tax Audits On The Way
The IRS has received nearly $80 billion in new funding and is using that money to go on a hiring spree. That’s good news for...
New Rules Mean Higher Taxes for IRA Trusts
If you named a trust as your IRA’s beneficiary, it’s time to revisit—and perhaps revise—that plan. Under the terms of the SECURE Act of 2020...
Countdown to Tax Time
Tax-filing season may be months away, but certain tax matters are best considered before the calendar year ends. The IRS’s much publicized hiring of tens...
IRS Rule Allows Bigger Penalty-Free IRA Withdrawals
An updated IRS ruling now allows IRA owners under age 59½ to dramatically increase the amount of money they can withdraw from their accounts without...
