What Are Trusts and Do You Need One?

When it comes to estate planning, one of the most important factors to keep in mind is that trusts are formed in accordance to state, not federal, law. That’s why it is so important for people who want to establish a trust to consult with a tax law expert who specializes in the laws within […]

Tax and Homeownership

One of the most significant tax benefits you as a homeowner will enjoy is arguably the mortgage interest deduction. This is applied to the interest you pay on your mortgage for your primary place of residence, though it may also apply to your second home or vacation home. For more insight into the specifics of […]

Should I Buy An Annuity Or An ETF?

Let’s start by lumping individual stocks and mutual funds under an exchange-traded fund umbrella. Once we’ve done that, we can explore the question of which to invest in. Annuities and ETFs are completely different instruments, though they share some common features. If you were comparing oranges and apples, you would find both are fruits, but […]

Taxes and Divorce

Is your relationship coming to a close? If so, you are likely feeling a lot of sadness, confusion, dissatisfaction and unhappiness. In addition to all the emotions that arise in the face of separation and divorce, you’re also expected to think about the way your tax filing status will change. But what happens when the […]

Is Your Withholding Correct?

All year long, employers withhold income tax from the paychecks of their employees. Each paycheck is distributed to you after your employer has taken out a portion of your paycheck to pay the IRS on your behalf. At the end of every year, your employer will send you a document called Form W-2, Wage and […]

FinCEN Requires Beneficial Ownership Information

As explained in a FinCEN release, the bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. Companies that are required to comply (“reporting companies”) must file their initial reports by the following […]

What Exactly Are Cryptocurrencies?

Digital assets — such as cryptocurrencies, stablecoins, NFTs, central bank digital currencies and security tokens — are created the moment new information is added to a blockchain via a new block. Blockchain entries not only indicate the presence of existing digital assets, but they signify the minting process of new ones as well. What is […]

IRS Tools and Resources To Help Small Businesses

The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations. If you are starting a business and need assistance figuring out the appropriate form of business entity to establish, these pages are valuable resources. Additionally, you […]

Home Energy Tax Credits: Going Green for More Green

The Inflation Reduction Act offers the potential to save when you make energy-efficient upgrades to your home. Eligible improvements include features such as heat pumps, solar panels, and energy-efficient heating or cooling systems. In turn, with these credits, you could possibly save thousands of dollars. Where does the Inflation Reduction Act stem from? It’s part […]