January 2024
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Tax-favored Qualified Small Business Corporation status could help you thrive
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains. QSBCs are the…
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The kiddie tax could affect your children until they’re young adults
The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead…
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Does your business have employees who get tips? You may qualify for a tax credit
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving…
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It’s possible (but not easy) to claim a medical expense tax deduction
One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you deduct your…
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Defer a current tax bill with a like-kind exchange
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is…
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