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You may have loads of student debt, but it may be hard to deduct the interest
More than 43 million student borrowers are in debt with an average of $39,351 each, according to the research group EducationData.org.
Electronic Documentation Considerations
There’s currently a “stepped-up basis” if you inherit property — but will it last?
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Can taxpayers who manage their own investment portfolios deduct related expenses? It depends
Do you have significant investment-related expenses, including the cost of subscriptions to financial services, home office expenses and clerical costs?
IRS audits may be increasing, so be prepared
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years.
Are you a nonworking spouse? You may still be able to contribute to an IRA
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of chi
Important Changes to the Child Tax Credit for 2021
Recently, there were changes made to the child tax credit that will benefit many taxpayers.
Seniors may be able to write off Medicare premiums on their tax returns
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want.
Supreme Court Decides California v Texas Affordable Care Act Case- What it means to you
Last week, the Supreme Court decided yet another case in a long line of legal challenges to the Affordable Care Act (ACA/Obamacare). While the Court did not rule on t
Tax-favored ways to build up a college fund
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs.
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