Latest From the Blog
Steps to Take If You Owe Back Taxes
Owing back taxes can be a stressful and overwhelming situation. Whether you've fallen behind on your income taxes or have unresolved tax debt from previous years, it's essential to address the issue promptly and take the necessary steps to resolve it.
The Estate Tax Mistake That Can Cost Families Millions
The U.S. tax code is generous when it comes to passing down money to heirs tax-free, and it has only become more so under the new tax law. But for married couples to obtain the full benefit, there is a strict set of rules. Messing up can be disastrous.
Companies Reap Cash Savings From Tax Law
The law accelerates or expands deductions for corporate research, interest payments and equipment purchases. Those retroactive changes are boosting cash flow, companies said in securities filings and analyst calls since President Trump signed the legislation July 4. That means more money for investments and stock buybacks and a bigger cushion against higher tariffs.
The Estate Taxes Catching Americans By Surprise
While the federal estate tax hits only the wealthiest Americans, the thresholds for state estate and inheritance taxes are generally much lower. These taxes can cost heirs tens of thousands of dollars they aren’t expecting to pay, along with the grief of figuring out how to pay the bill when the bulk of an estate’s value is tied up in a house or business. The problem is especially acute now because of the recent meteoric rise in real-estate values.
What an IRS Battle Over an 850-Year-Old Painting Means for Your Taxes
Donations of property are thorny because they’re often hard to value, unlike gifts of cash or traded securities. This category includes contributions of art, real estate, collectibles and nontraded stock, among others.
Protect Yourself From Tax Identity Theft. Here's What I Did.
For years, I dreaded the possibility that a tax identity theft would complicate my life and delay my tax refund. Now I’ve finally taken steps to avoid it, and you may want to as well.