Gift Tax Annual Exclusion
By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax.
Selling Your Home in 2023: Tax Implications and Capital Gains Explained
If you’re considering selling your property or have recently sold one in 2023, it’s crucial to be acquainted with the home sale tax rules.
That email or text from the IRS: It’s a scam!
It’s a scam! Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS.
Use an S corporation to mitigate federal employment tax bills
If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder!
If you’re hiring independent contractors, make sure they’re properly handled
Many businesses use hiring independent contractors as a way to help keep their costs down.
4 tax challenges you may encounter if you’re retiring soon
Are you retiring soon? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications.
Use the tax code to make business losses less painful
The federal tax code may help business losses less painful by allowing businesses to apply losses to offset taxable income in future years.
Digital Assets on your 2022 Taxes
The Washington State Supreme Court upheld the state’s new Capital Gains Tax.
WA Capital Gains Tax Update
The Washington State Supreme Court upheld the state’s new Capital Gains Tax.
Tax Cuts and Jobs Act
The 2017 Tax Cuts and Jobs Act included tax law changes that took effect over multiple years.
Capital Gains and Losses Summary
We often receive questions about the tax treatment of capital gains and losses, we’ve provided the following summary to offer some clarity on the topic.
Cryptocurrency Reporting
The IRS treats virtual currency as property rather than currency. Sales or exchanges of property create capital gains and losses. This can lead to complex cryptocurrency reporting
Providing fringe benefits to employees with no tax strings attached
Businesses can provide fringe benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits.
Inflation Reduction Act expands deductions for energy-efficient construction
The recently enacted Inflation Reduction Act (IRA). To that end, the legislation is packed with deductions for energy-efficient construction.
The Inflation Reduction Act: what’s in it for you?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments.