Owners of residential real estate may consider renting their properties to family members. As rents rise in many parts of the country, renting property at a discount to family members may seem like a good way to help relatives in need. But these arrangements can...
Businesses shut down for many reasons, including the owner’s retirement, an expired lease, staffing shortages, partner conflicts and increased supply costs. Closing a business means taking care of various tax obligations that must be met. This article provides a rundown....
Whether a business is new or established, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations....
It’s an awful feeling for anyone to learn that his or her credit or debit card has been used fraudulently. Whether the cardholder is liable typically depends on the type of card, whether he or she still possesses the card and when the card issuer...
Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to reduce your 2019 tax bill by selling some investments ― you just need to carefully select which investments you sell. Balance gains and losses If you’ve sold investments at a gain this year, consider selling...
When is a loss actually a gain? When that loss becomes an opportunity to lower tax liability, of course. This article discusses the tried-and-true strategy of using capital losses to counter the potentially costly impact of capital gains....
