retirement state tax implications

When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t…

employer tax penalty

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh…

IRS Audit Statistics FY 2018

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had…

review paycheck witholdings

Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Some filers who have…

hire your children summer help

If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The…

house sale tax implications

Spring and summer are the optimum seasons for selling a home. And interest rates are currently attractive, so buyers may be out in full…

It’s that time of year when many people who filed their tax returns in April are checking their mail or bank accounts to see…

business expense write-offs

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t…

electric car tax savings

While the number of plug-in electric vehicles (EVs) is still small compared with other cars on…

personal property

Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act,…