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Planning for Capital Gains Tax
Capital gains are the profits realized from the sale of capital assets such as stocks, bonds, and property. The capital gains tax is triggered only when an asset is sold, not while the asset is held by an investor. However, mutual fund investors could be charged...
Tax on the Sale of Your Home
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...
Vaccination Tax Credits
As the nation suffers from the ravages of the super-contagious COVID-19 Delta variant, the federal government desperately wants all American workers and their families to get vaccinated. If you have employees, you probably feel the same way. Indeed, more and more...
Employer Retention Credit
The Consolidated Appropriations Act of 2021 introduced the Employee Retention Credit for qualifying businesses. The American Rescue Plan Act of 2021 (ARPA) enhanced the Employee Retention Credit (ERC) and extended it for an additional six months, through December 31,...
Don’t Miss Out on Tax Credits
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...
Estate & Gift Tax Basics
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...