Local News
Under Section 179 of the Internal Revenue Code, companies can “expense” the full cost of qualifying fixed assets to reduce their taxable income. This means they can deduct the purchase… Read More
Many individuals today are self-employed or generate income from interest, rent, dividends and other sources. If you’re in this situation, you could be risking penalties if you don’t pay enough… Read More
Donating cash and property to your favorite charity is beneficial to the charity, but also to you in the form of a tax deduction if you itemize. However, to be… Read More
If you may be eligible for disability income should you become disabled, it’s important to know whether that income will be taxable. As is often the case with tax questions,… Read More
Although your business may seem big to you, you may wonder how the government classifies it. A recent report by the Joint Committee on Taxation, a nonpartisan committee of the… Read More
Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get carried away and end up in worse financial… Read More
With so many people working remotely these days, thinking about moving to another state has become common — perhaps for better weather or to be closer to family. Business owners… Read More
Does your business have multiple owners? If so, you need a buy-sell agreement. This type of binding contract determines how (and at what price) ownership shares of a privately held… Read More
If you’re looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to… Read More
Summer is the wedding season and newlyweds should understand how tying the knot can affect their tax situation. Here’s are three things newly married couples should know: 1. Name and… Read More
With hurricane season in the East and South, wildfire season in the West, and severe weather season in the middle of the county, now is a good time to create… Read More
It’s almost time for the start of the new school year, and if you are a teacher or other educator, you should know that you can still deduct certain unreimbursed… Read More