Thinking about participating in your employer’s 401(k) plan? Here’s how it works
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans h...
Vacation home: How is your tax bill affected if you rent it out?
If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the yea...
Is a Health Savings Account right for you?
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For ...
Planning for year-end gifts with the gift tax annual exclusion
As we approach the holidays and the end of the year, many people may want to make gifts of cash or s...
Selling a home: Will you owe tax on the profit?
Many homeowners across the country have seen their home values increase recently. According to the N...
There’s currently a “stepped-up basis” if you inherit property — but will it last?
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the ...
Can taxpayers who manage their own investment portfolios deduct related expenses? It depends
Do you have significant investment-related expenses, including the cost of subscriptions to financia...
IRS audits may be increasing, so be prepared
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their re...
Are you a nonworking spouse? You may still be able to contribute to an IRA
Married couples may not be able to save as much as they need for retirement when one spouse doesn’...
Seniors may be able to write off Medicare premiums on their tax returns
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums ...