Many people who began working from home during the COVID-19 pandemic are still doing so, full or part-time. Business owners who moved their operations to a home office, or at least began performing some work functions there, may be able to claim home office expenses...
Taxpayers with large, outstanding tax bills need to watch out. The U.S. State Department could deny a passport application, or revoke or limit a current passport, if the IRS certifies that an individual has a seriously delinquent tax debt. This brief article provides more information....
Finding ways to defer or minimize taxes on investments is always important. One way to do so — and diversify one’s portfolio, too — is to invest in qualified small business stock. This article describes the tax advantages....
The TCJA didn’t eliminate the individual AMT. But the law did draw a silver lining around it. Revised rules now lessen the likelihood that many taxpayers will owe substantial taxes under the AMT for 2018 through 2025. This article explains why. A sidebar warns higher-income...
Changes lie ahead for two fundamental elements of individual tax planning: personal exemptions and the standard deduction. This brief article clarifies key amounts for both the 2017 tax year and for 2018 through 2025....
The Tax Cuts and Jobs Act, signed into law this past December, has brought great changes to estate planning. In doing so, it bolstered the potential value of dynasty trusts. This article explains why these trusts are well worth considering for tax purposes, while a...
