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Taxes
When and How to Report a 1031 Exchange on Your Tax Return
A 1031 exchange allows certain real estate investors to defer capital gains taxes when selling…
Are Unemployment Benefits Taxable Income?
The IRS generally treats unemployment compensation as taxable income. If you don’t plan for this,…
Claiming Parents as Dependents: Income Limit, Support Test and Credits
Adult children who financially support a parent may be able to claim that parent as…
Trump Stay-at-Home Parent Payment: How It Could Work and What You Could Get
If you stay home with your children while your spouse works full time, a proposed…
I’m a Stay-at-Home Mom With 3 Kids. Claiming This Tax Credit Could Add Up to $6,600 to My Family’s Refund.
Some families may be expecting a new tax break for stay-at-home parents, but despite a…
Wash Sale Rule for Stocks: Tax Deductions
Selling a stock at a loss can be a useful tax strategy. The loss may…
Unrealized Gains: Favorable vs. Unfavorable Tax Treatment
An investment can increase substantially in value without creating an immediate federal income tax bill.…
Trust 65-Day Rule: How Distributions Affect Beneficiary Taxes
The 65-day rule can give certain trusts more flexibility when deciding when to distribute income…
How Much Does a Dependent Reduce Taxes on a Paycheck?
Claiming a dependent does not reduce the taxes taken from each paycheck by a fixed…
How to Avoid Capital Gains Taxes on an Inherited House: Strategies and Examples
Inheriting a house does not mean that you automatically owe capital gains tax. In most…
LLC vs. LLP: Tax Treatments and Investor Protections
Choosing a business structure is one of the first major decisions entrepreneurs and investors face.…
LP vs. LLP: Tax Treatments and Investor Protections
If you are thinking about starting a business with partners or investing in a partnership…
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