To Port or Not to Port: Is Filing for Portability Right for You?
The option of portability when planning your estate could make a substantial difference come tax time, especially with today’s generous estate and gift tax exemption amounts. Should you consider this...
When Does a Gift Require a Gift Tax Return, and Gift Tax?
With lifetime gift and estate tax exemptions at an all-time high in 2020, not as many taxpayers will be subject to federal gift taxes this year. However, that doesn’t mean...
Retirement Plan Options for Self-Employed Business Owners
Owning your own business gives you a great deal of freedom to make your own choices. It also comes with a lot of responsibility as well, including estimating and paying your own...
IRS Sends Warning Letter to Cryptocurrency Users About Reporting
Taxpayers who exchange cryptocurrency may receive a letter this month from the IRS regarding reporting issues. Due to the increase in popularity of cryptocurrency, the IRS is drawing its attention...
Tax-Savvy Retirement Planning
With over 70 million baby boomers in the United States, how many are celebrating their 65th birthday every day? Retirement is right around the corner for many. Are you prepared...
Decrypting Cryptocurrencies
What are cryptocurrencies? The news is teeming with excitement about cryptocurrencies, whether it be Bitcoin, Ethereum or one of the many other types of cryptocurrency. With the increasing popularity of...
Tax Benefits of Vacation Rentals
In light of recent news on the regulation of vacation rentals, it is important to know about their taxability—why they are beneficial for both revenue and losses and how to...
Student Scholarships – Free Money or Taxable Income?
The taxability of student scholarship funds has been an issue for many years. In any student scholarship, it is important to understand the intention of the funds and the student...
To Port or Not to Port: Is Filing for Portability Right for You?
The option of portability when planning your estate could make a substantial difference come tax time, especially with today’s generous estate and gift tax exemption amounts. Should you consider this...
When Does a Gift Require a Gift Tax Return, and Gift Tax?
With lifetime gift and estate tax exemptions at an all-time high in 2020, not as many taxpayers will be subject to federal gift taxes this year. However, that doesn’t mean...
Retirement Plan Options for Self-Employed Business Owners
Owning your own business gives you a great deal of freedom to make your own choices. It also comes with a lot of responsibility as well, including estimating and paying your own...
IRS Sends Warning Letter to Cryptocurrency Users About Reporting
Taxpayers who exchange cryptocurrency may receive a letter this month from the IRS regarding reporting issues. Due to the increase in popularity of cryptocurrency, the IRS is drawing its attention...
Tax-Savvy Retirement Planning
With over 70 million baby boomers in the United States, how many are celebrating their 65th birthday every day? Retirement is right around the corner for many. Are you prepared...
Decrypting Cryptocurrencies
What are cryptocurrencies? The news is teeming with excitement about cryptocurrencies, whether it be Bitcoin, Ethereum or one of the many other types of cryptocurrency. With the increasing popularity of...
Tax Benefits of Vacation Rentals
In light of recent news on the regulation of vacation rentals, it is important to know about their taxability—why they are beneficial for both revenue and losses and how to...
Student Scholarships – Free Money or Taxable Income?
The taxability of student scholarship funds has been an issue for many years. In any student scholarship, it is important to understand the intention of the funds and the student...