by Tabitha Regan, CPA | Oct 1, 2021 | Individual Tax
The real estate market has been buzzing with many homeowners realizing substantial gains from the sale of their home. But do those great sales proceeds come with tax consequences? Read on to learn about gain on your primary residence and if you could qualify for the...
by Tabitha Regan, CPA | Sep 10, 2021 | Individual Tax
Tax credits are a tax benefit that offsets your actual tax liability, as opposed to a tax deduction, which reduces your income. Congress provides tax credits to individual taxpayers for a number of reasons including to stimulate employment, and to stimulate certain...
by Tabitha Regan, CPA | Sep 3, 2021 | Individual Tax
If you give away money or property during your life, those transfers may be subject to federal gift and estate tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also be subject to federal gift and estate tax and some...
by Tabitha Regan, CPA | Aug 20, 2021 | Individual Tax
If you are an employee of a corporation, as an incentive to continue employment, the company may offer you the option to purchase shares of the corporation at a fixed price at some future date so that you can benefit from your commitment to the success of the company...
by Tabitha Regan, CPA | Jul 16, 2021 | Family, Individual Tax
On April 28, 2021, the White House released a fact sheet for President Biden’s American Families Plan (AFP), which proposes about $1 trillion in investments and $800 billion in tax cuts. There would also be tax increases for those making more than $400,000 per...
