Tax Planning
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Don’t have a tax-favored retirement plan? Set one up now
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for…
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How renting out a vacation property will affect your taxes
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a vacation home.…
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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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Guaranteeing a loan to your corporation? There may be tax implications
Let’s say you decide to or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser, or indemnitor…
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Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis”
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the…
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Reduce the impact of the 3.8% net investment income tax
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax…
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