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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 ...

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 ...

It's generally not a good idea for a closely held C corporation to own assets with high appreciation potential. A classic example is real estate. If your corporation owns property, it's likely the ...

When planning their estates, most people focus on major assets, such as business interests, real estate, investments and retirement plans. But it's also important to "sweat the small stuff" — tangible ...

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 ...

Estate planning is always important — but it takes on even greater importance if you have a special needs child who is not expected to be financially independent. The parents of children with autism, ...

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 ...

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, ...

Ferrari Ottoboni Caputo & Wunderling LLP is proud to announce that Daniel S. Gonzales, of counsel to the firm, was honored with the Professional Lawyer of the Year Award by the Santa Clara County Bar ...

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 ...

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 ...

The IRS uses "Collection Financial Standards" to help determine a taxpayer's ability to pay a delinquent tax liability. Allowable living expenses include those that meet the test of being necessary to ...

Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if you deducted vehicle ...

If you sell stocks with losses in your taxable accounts, you may offset losses against gains and deduct an additional $3,000 of excess losses against ordinary income. But what about losses in your ...

What's your real marginal tax rate? If you answer that question by looking at the tax rate tables that show rates of 10, 15, 25, 28, 33, 35 and 39.6 percent, you could be understating your real ...

If you have investments with substantial losses, consider these strategies to improve your results: 1. Use stock losses to offset other capital gains. You may use stock losses to offset other types of ...

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. ...

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 ...

The U.S. survived the worst recession since the Great Depression. But believe it or not, there is a silver lining: this tough economy has driven applicable federal rates (AFRs) to rock bottom levels. ...

Depending on your situation, it may make sense to include the odd-sounding "Q-tip trust" in your estate plan . The name derives from a special estate tax break for "qualified terminable interest ...

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 ...