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The favorable rule allowing debt forgiveness on a principal residence mortgage up to $2 million expired at the end of 2013. It could be extended, but given the resurgence in the housing market, it may...

Not yet, but the odds are in favor of an extension. Unfortunately, we probably won’t know for sure until later this year. If it comes very late in the year, the IRS may even give relief for rollover...

Earned income remains taxable regardless of age. Similarly, such income continues to be subject to Social Security and Medicare taxes (FICA for an employee; self-employment tax for a self-employed per...

Concerned about care if you should experience a chronic condition or just old age requiring assistance for your daily living activities? You should be, because the cost of long-term care—in your hom...

Not yet. The more than four dozen tax rules that expired at the end of 2014 have yet to be extended for 2015. Stay tuned!...

What you do for your family is great, but the tax law doesn’t reward you with any special tax breaks. If you care for grandchildren in your home and are paid, you must report the income (you may owe...

This rule expired at the end of 2014 and has not yet been extended for 2015. Many believe it will be extended, but it is advisable to wait until later this year to see what Congress does before making...

No. You can give each person up to the annual exclusion amount ($14,000 in 2015 and 2016) without any gift tax, or even the need to file a return. A person can make one gift on December 31, 2015, and ...

You work hard to put money into your IRA, 401(k), or other tax-advantaged retirement savings program. The tax law is designed to encourage savings by giving tax breaks—deductions or exclusion from i...

While the interest is not subject to income tax, it must be reported on your federal income tax return. If you collect Social Security benefits, the interest is taken into account in determining wheth...