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The Inflation Reduction Act, which was passed in the summer of 2022, made favorable changes related to energy improvements to your home. The following applies to “energy improvement” property plac...

Now that tax filing season is over, millions of taxpayers are eagerly awaiting their tax refunds. The IRS says the average refund this year is about $2,700. Some measures you take now with your tax r...

This year—2022—has been a tough time for profits in securities, realty, and other assets. Tax rules may allow for write-offs, but not in all situations. Here are 5 things to know. 1. Capital lo...

The IRS announced next year’s contribution limits for health savings accounts (HSAs), as well as requirements for high-deductible health plans (HDHPs) to which HSAs must be linked (Rev. Proc. 2022-2...

Employees have their tax obligations met largely by income tax withholding from each paycheck. If you are working as a self-employed individual so that you're not on the payroll as an employee, you do...

Those who were in contract by April 30, 2010, to purchase a home that would qualify them for a tax credit as a first-time buyer or long-term resident now have more time to complete the sale. Originall...

When school is out, what do your children do? Parents may send children to summer camp or special school programs or make other child care arrangements. Some older children may go to work. There may ...

With tax rates almost certain to rise in coming years, now is a good time to focus in on tax-free income. The tax law has many situations in which you can receive income on a tax-free basis. Here is a...

The American Recovery and Reinvestment Act of 2009 created a new deduction for state and local sales and excise taxes paid on the purchase of a new motor vehicle. But what if you live in Alaska, Delaw...

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...