In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Job...

If you have a parent entering a nursing home, you may not be thinking about taxes. However, there are a number of possible tax implications – here are five of them. 1. Long-Term Medical Care The costs of qualified long-term care, including nursing ...

After months of negotiation, on Aug. 10, 2021, the U.S. Senate voted 69-30 to pass the $1.2 trillion bipartisan Infrastructure Investment and Jobs Act (IIJA), the largest investment in infrastructure the United States has seen in over a century. The ...

The Internal Revenue Service (IRS) just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these...

The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background Back in March of 2020, Congress originally e...

Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But...

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may deal with when you retire: 1. Taking...

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize your expenses. Here are some possible optio...