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Help Prevent Financial Scams Aimed At Older People

In any season, scam artists are on the lookout for ways to steal financial data and money from vulnerable people. Such fraudulent activities often target…

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Nonworking Spouses May Still 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…

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How Start-up Costs of a New Business Affect Your Tax Return

Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. The latest data available from the…

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Can You Deduct the Costs of a Self-Managed Portfolio?

Do you have significant investment-related expenses, including payment for financial service subscriptions, home office maintenance and clerical support? Under current tax law — specifically the…

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Partners May Have To Report More Income on Tax Returns Than They Receive in Cash

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on…

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For Nonprofits, Quid Pro Quo Isn’t a Simple Exchange

Quid pro quo donations occur when a not-for-profit receives a payment that includes a contribution and the organization provides the donor with goods or services…

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Inflation Enhances the 2023 Amounts for Health Savings Accounts

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being…

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Businesses: Prepare for the Lower 1099-K Filing Threshold

Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required…

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Proposed Regs for Inherited Iras Bring Unwelcome Surprises

Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act…

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Tax Implications of Manufacturers Operating in Multiple States (Nexus)

Pre-2018, businesses used physical presence, such as a satellite location or employees working in a state, to determine if substantial nexus was created to require…