Who In a Small Business Can Be Hit With the “Trust Fund Recovery Penalty?”

The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally if employment taxes aren’t...

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Keep Family Matters Out Of the Public Eye by Avoiding Probate

In basic terms, probate is the process of settling an estate and passing legal title of ownership of assets to heirs. The part most people dislike abo...

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Is an LLC the Right Choice For Your Small Business?

There are several options for operating your small business. For example, a sole proprietorship, an S corporation or a partnership. Take a look at why...

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5 Possible Tax Aspects of a Parent Moving Into a Nursing Home

Long-term care, including nursing home care, is expensive. Fortunately, there may be tax breaks if your parent is moving into a nursing home.

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The Deductibility of Corporate Expenses Covered by Officers or Shareholders

If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Her...

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You May Have Loads of Student Debt, But It May be Hard to Deduct the Interest

Student loan interest is deductible for some borrowers subject to certain limits. Find out if you qualify.

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Getting a New Business Off the Ground: How Start-Up Expenses Are Handled on Your Tax Return

Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launching a business, here’s how s...

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A Fresh Look at CRTs, CRATs and CRUTs

If you’re charitably inclined but concerned about having sufficient income to meet future needs, a charitable remainder trust (CRT) may be the a...

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Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses

Keeping meticulous business records for meal and vehicle expenses can protect your tax deductions. Here are some DOs and DON’Ts.

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Are You a Nonworking Spouse? You May Still be Able to Contribute to an IRA

Married spouses who don’t work outside the home may still be able to contribute to an IRA. Here are the rules for 2021 for spousal IRAs.

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Members of the Sandwich Generation Find Themselves in a Unique Situation

Although it may be personally gratifying to financially help your elderly parents, being a member of the “sandwich generation” can result...

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Traveling for Business Again? What Can You Deduct?

On the road again for business? Here’s a rundown of costs you can deduct for business travel.

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Retiring Soon? 4 Tax Issues You May Face

Tax planning is still important after you retire. Here are some of the tax implications of retirement.

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Tax-Favored Ways to Build Up a College Fund

Your college savings can go farther with tax-favored vehicles. Here are some options.

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Hiring Your Minor Children This Summer? Reap Tax and Nontax Benefits

Are you a business owner with teenage or college-age children who constantly need cash? You may want to hire them to work at your business. You’...

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