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There is generally no one legal structure that works best for all businesses. The most favorable choice depends on a number of factors, including the number of owners, your tax situation and whether ...

With much of the country currently on lockdown due to the novel coronavirus (COVID-19) crisis, many nonessential businesses have been shuttered. As a result, millions of small business owners find ...

In the past, home office deductions were available to a wide range of taxpayers, including certain employees who worked from home. But the Tax Cuts and Jobs Act (TCJA) has effectively eliminated home ...

Successful estate planning generally involves passing on your assets to your heirs at a low tax cost. To help achieve that goal, there are a few things to keep in mind about retirement accounts. ...

For many people, mapping out an estate game plan is something they intend to think about later. But too often, later never comes. The reasons for not dealing with estate planning now may include not ...

Legislation enacted a few years ago made permanent changes to the federal estate and gift tax rules. Specifically, here are the significant estate changes in the American Taxpayer Relief Act: What is ...

Legislation enacted a few years ago made permanent changes to the federal estate and gift tax rules. Specifically, here are the significant estate changes in the American Taxpayer Relief Act: The 2019 ...

Beneficial rules for the generation-skipping transfer (GST) tax are currently in force, which may allow you to pass on assets to future generations without a federal tax bill. GST Tax Basics When it ...

The reason: Investments held in a Roth IRA are allowed to build up federal-income-tax-free. Later on, you can take federal-income-tax-free withdrawals. Obviously, a zero tax rate is the best rate ...

Health Savings Accounts (HSAs) are a tax-smart way to cover an individual's uninsured medical expenses. Your business can set up HSAs for qualifying employees. Then the business can fully or partially ...

U.S. stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across ...

With profound sorrow, we at Ferrari Ottoboni Caputo & Wunderling share with you the sad news of the passing of our founding partner, esteemed mentor, and enduring friend, Clarence J. ("Bud") Ferrari, ...

Soon you may not be able to pass through security checkpoints at your local airport using your current form of identification, even if you're just flying domestically. The crackdown is aimed at U.S. ...

Favorable individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. But some analysts think that they could be repealed sooner, ...

For an investor, managing money is a lot like managing manure for a farmer. Both live by the credo, "spread it around and it will grow." But as both successful investors and farmers know, you've got ...

You may have seen The Descendants , a popular movie starring George Clooney. In this Oscar-nominated film, Clooney's character, Matt King, has to make decisions affecting a family trust, which is ...

Under the right circumstances, an intentionally defective irrevocable trust (IDIT) can be an effective estate tax planning tool. These trusts are set up to purposely fail certain technical tests in ...

As a landlord, you have the right to screen potential tenants, determine rental agreements, charge rent and collect security deposits. You also have the right to evict unsatisfactory tenants but you ...

If you're renovating a building in an historic part of town, you may be able to claim a 20% federal tax credit for the cost of the renovation work. The benefit has to do with the tax credit for ...

L ocation, location, location. You know how important it is for your business. So when choosing a location, you probably research foot traffic, car traffic and the occupancy rates of the neighboring ...

Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be ...

In the past, home office deductions were available to a wide range of taxpayers, including certain employees who worked from home. But the Tax Cuts and Jobs Act (TCJA) has effectively eliminated home ...

Virtual currency has gone mainstream. AT&T recently announced that its customers can use Bitcoin to pay their phone bills. Other big companies that accept Bitcoin include Microsoft, Expedia and ...

Several significant federal tax breaks are set to expire at the end of 2020, unless Congress renews them. Lawmakers customarily extend these so-called "extender" provisions for another year or two, ...

Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be ...

There is generally no one legal structure that works best for all businesses. The most favorable choice depends on a number of factors, including the number of owners, your tax situation and whether ...

Under current tax law, the federal income tax rate for C corporations is a flat 21%. Under prior law, C corporations faced a graduated federal income tax-rate schedule with a maximum effective rate of ...

Residential real estate values have fully recovered in many areas, and rental rates are strong. To take advantage of this favorable situation, consider buying a new residence and converting your ...

Passive job candidates aren't lazy. They're just people who aren't actively looking for work because they're happy where they are. But that doesn't mean they might not be even happier working for you. ...

Protecting assets from creditors is a critical aspect of estate planning, but you need to think about more than just your own creditors: You also need to consider your heirs' creditors. Adding ...

With a properly executed estate plan , your wealth can be enjoyed by your children and even their children. But did you know that by using a dynasty trust, you can extend the estate tax saving ...

Most of us know that a trust is a useful way to safeguard financial assets for your benefit or for someone else. But the common misconceptions about trusts could cause you to bypass them entirely, or ...

You spend a lifetime accumulating a large estate. But without careful planning, Uncle Sam will knock on the door after you die and vastly reduce the wealth passed onto your heirs. After a temporary ...

If you receive group disability insurance from your company, you may think you have enough coverage to protect yourself in the event of a long-term sickness or injury. But take a closer look. One of ...

Some people are under the misconception that Social Security benefits are always free from federal income tax. However, depending on how much income you have from other sources, you may have to report ...