Federal Taxes
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The Social Security wage base for employees and self-employed people is increasing in 2024
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for…
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Business automobiles: How the tax depreciation rules work
Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are complicated,…
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The tax implications of renting out a vacation home
Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or…
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How IRS auditors learn about your business industry
Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on…
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Investment swings: What’s the tax impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year-end…
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Selling your home for a big profit? Here are the tax rules
Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of…
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