Tax Planning Guide for Disaster Area Victims

Category Archives: Tax and Financial News

Tax Planning Guide for Disaster Area Victims

The recent hurricane Ian impacted much of the southeast United States. As a result, it is good to know the general tax rules related to disaster victims. Below, we look at several tax topics for disaster area victims. 1. Tax … Continue reading

Posted in Blog, Tax and Financial News |

How to Increase After-Tax Returns on Investments

It is all about how much you keep after taxes – not what you earn from your job, a business or investments. While it is always great to see fabulous investment gains, the only financial metric that really matters is … Continue reading

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Expanding the Net Investment Income Tax

Despite borrowing massive amounts of money, the government still needs to find ways to raise revenue to pay for new programs and spending. The current democratically controlled Congress is looking to potentially implement new social programs and a climate bill. … Continue reading

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The IRS is Auditing Fewer Returns than Ever

One of the perennial fears of taxpayers is getting audited by the IRS. Financially, few scenarios strike such fear into the heart of taxpayers. However, taxpayers can probably breathe a sigh of relief – at least for now. This is … Continue reading

Posted in Blog, Tax and Financial News |

Tax Break for Commercial Real Estate Investors

COVID-19 impacted the economy dramatically and commercial real estate was no exception in terms of decreased values. Often, the real property could no longer service the debt used to finance it. This debt restructuring and resulting debt forgiveness can result … Continue reading

Posted in Blog, Tax and Financial News |

Secure 2.0 Retirement Bill

At the very end of March, the House of Representatives passed a version of the bill known as Secure 2.0. The bill passed the House with overwhelming bipartisan support in a 414-5 vote. The House version still needs to pass … Continue reading

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What Every Taxpayer Needs to Know This Season

The IRS is currently suffering a severe backlog in processing returns from 2021 for the 2020 tax year. As of Dec. 31, there were still more than 6 million unprocessed individual returns with notices and pending refunds. There are a … Continue reading

Posted in Blog, Tax and Financial News |

Taxation of Legal Settlements and Fees

The taxation of legal settlements and fees is a complex topic. While the mechanics to make a proper claim are now easier, the rules are still complex. Below we look at six rules to consider when it comes to the … Continue reading

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2022 U.S. Tax Legislation Forecast

No one knows for sure what 2022 will bring in the form of tax legislation, but there is certain to be some action. Top tax analysts think there are several topics that are likely to come up in 2022. Most … Continue reading

Posted in Blog, Tax and Financial News |

The Risks of Using Self-Directed IRAs

Self-directed IRAs (SDIRAs) are becoming more and more popular as IRA holders look to enter alternative investments. While SDIRAs can open up a world of investment options, the rules around them are complicated and compliance can be tricky. Below, we’ll … Continue reading

Posted in Blog, Tax and Financial News |
 

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