Do You Owe Estimated Taxes? If So, When Is The Next One Due?
Certain taxpayers generally must make quarterly estimated tax payments to avoid a penalty. Here are the rules, along with when the next payment is due.
Planning Your Estate? Don’t Overlook Income Taxes
The federal estate tax exemption is currently $13.61 million, so you may want to think more about saving income taxes for your heirs (rather than worrying about estate taxes).
Consider Borrowing From Your Corporation But Structure The Deal Carefully
Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences.
What Might Be Ahead As Many Tax Provisions Are Scheduled To Expire?
What’s on the tax horizon as many Tax Cuts and Jobs Act provisions get closer to their scheduled expiration date? Here are four possible scenarios.
Social Security Tax Update: How High Can It Go?
The Social Security tax paid by many individuals will continue to go up in future years. Here’s a look at how the tax affects employees, self-employed individuals and employers.
Figuring Corporate Estimated Tax
An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations.
House Rich But Cash Poor? Consider A Reverse Mortgage Strategy.
If you’re 62 or older and own a highly appreciated house, a reverse mortgage may provide a way to stay in the home for your lifetime, get some income and receive a tax-saving bonus.
You May Be Entitled To Tax Breaks If Caring For An Elderly Relative
If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.
A Three-Step Strategy To Save Tax When Selling Appreciated Vacant Land
If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
Disabled Family Members May Be Able To Benefit From ABLE Accounts
Family members often want to help disabled loved ones financially but don’t want them to lose eligibility for their government benefits. A tax-advantaged ABLE account may be the answer.