If you’re self-employed, run your own small business, or have rental or investment income, there’s a good chance you must make quarterly estimated tax payments. These payments include income tax and, if applicable, self-employment...
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In many areas, vacation home prices have skyrocketed, along with property insurance costs. If you own a highly appreciated vacation property, is it time to cash out and simplify your life? You could simply sell the property and accept the tax hit...
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As separate legal entities, estates and nongrantor trusts must file their own federal tax returns, just like individual taxpayers. Unlike individuals, however, these entities may distribute income to beneficiaries, which can shift tax liability...
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Choosing the right business entity is one of the most important decisions entrepreneurs make when launching or restructuring a business. The type of entity selected affects how the business is taxed, its administrative complexity, and who may be...
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A valuable business tax credit As of January 2025, the unemployment rate was reported to be 4%. Employers facing hiring challenges may benefit from a valuable one-time federal tax credit available through 2025. The Work Opportunity Tax Credit...
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Life is full of changes, and many significant milestones can affect your tax situation in unforeseen ways. Whether you’re getting married, welcoming a new child, starting a new job or making other changes, it’s important to understand...
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New college graduates will face some of the harsh realities of adulthood, including paying taxes, filing their own tax returns and possibly coordinating with their parents to achieve the best overall family tax results. Here are answers to...
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On April 2, 2025, President Trump rolled out his promised new tariff policy. A long-time fan of tariffs, Trump surprised many with a baseline tariff on all U.S. imports and higher tariff rates for some countries. Although he subsequently imposed...
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WASHINGTON — The Internal Revenue Service reminds taxpayers that proper tax withholding now is key to avoiding surprises when they file their tax return next year. Making any needed adjustments earlier in the year means taxpayers won’t have to...
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It wasn’t long ago that the not-for-profit sector was struggling to find enough staffers to hire. Now that many organizations are losing federal grants and facing budget shortfalls, they may be considering layoffs. If you’re in this...
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Cash flow is arguably the most important element in the smooth and successful operation of any business. Generating sales and managing expenses are, of course, also important. But ensuring that cash from those sales is collected and that your...
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Every profession has its own set of best practices. These are simply guidelines for how employees should be doing their jobs and what steps management should take to ensure the best outcomes. They’re not set in stone. In fact, they can vary...
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