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Now that you've completed your 2015 tax return, take time to review the experience so you can improve your tax filing next year. Actions you take now can reduce your stress, minimize your tax payments...

The value of vacation properties, like the value of principal residences, has fallen on average by 25% in this dismal housing market. The number of sales has plummeted as potential buyers are squeeze...

With summer vacation approaching and mortgage rates low, some taxpayers may be thinking of buying a second home. Others who already own a vacation home may be renting it out for part of the year. How ...

Whether gain or loss on the sale of the land held for development is ordinary income (or loss) or capital gain (or loss) depends on the situation. If land is held as inventory for sale to customers in...

Distributions from a qualified retirement plan and IRA before age 59½ are subject to a 10% penalty (in addition to the regular tax), unless a penalty exception applies. One exception is a distributio...

Yes. While there are certain ordering rules for applying capital losses against capital gains, ultimately, long-term capital losses can offset any short-term gains....

U.S. citizens and residents must pay tax on their worldwide income. There is a limited exclusion for earned income (up to $103,900 in 2018), but there is no exclusion for gain on the sale of property ...

A doctor who incorporated his practice worked as a contractor in a hospital emergency department. He used the second story of his residence to access patient records remotely and to do continuing educ...

A study in 2017 (https://www.upwork.com/press/2017/10/17/freelancing-in-america-2017/) found that an estimated 57.3 million Americans now work in the gig economy, driving for Uber or Lyft, performing ...

The importance of an education is no secret. Statistically, lifetime earnings increase with the level of education. And with today’s changing technology the need for continued learning is high. From...