ARTICLES

Age-based tax rules can impact your finances. Tracking these milestones helps you maximize benefits and avoid mistakes.

As IRS enforcement around digital assets increases, it's more important than ever to understand how cryptocurrency, NFTs, and other digital assets are taxed. We break down what qualifies as a digital asset, how to answer the IRS's crypto question on your tax return, and what records you need to stay compliant.

Thinking about incorporating your business? While incorporation offers benefits like liability protection and growth opportunities, it also brings tax considerations like how much you pay yourself or other key employees. Learn about the IRS’s stance on reasonable compensation, the risks of misclassification, and real-world examples to help you make informed decisions.

Claiming business deductions? The IRS is watching closely. A recent Tax Court case shows how poor documentation can lead to denied write-offs for meals, supplies, home office use, and more. Read further to learn what went wrong and how to protect your deductions with the right records and practices.

A practical guide for family business owners on navigating estate and succession planning. Learn how to transfer ownership, reduce estate taxes, and preserve control through strategies like trusts, business structures, family partnerships, and ESOPs while keeping the business in the family.

Working a side gig? Learn how to manage taxes as an independent contractor — from tracking income and expenses to understanding self-employment tax and deductions.

Planning summer trip? Learn which business travel expenses are tax-deductible in 2025, including key rules for combining business and personal travel, meal limits, and documentation tips.

Have you received a legal settlement or expect one soon? Not all lawsuit awards are tax-free and misunderstanding how the IRS treats different types of damages could cost you. From back pay and punitive damages to physical injury claims, knowing what’s taxable is essential. We break down the key tax rules and explain why professional guidance can make a meaningful difference.

Even profitable businesses can face challenging years. Learn how net operating losses (NOLs) can help reduce future tax burdens, and how recent tax law changes affect your ability to claim them. Discover why smart planning is key to maximizing the benefits of business losses.

Learn how a living trust can help you avoid probate, maintain privacy, and streamline asset distribution — regardless of your estate size. Discover key benefits, tax implications, and common pitfalls to avoid.

Looking for a tax-smart way to support your employees and even your own family members? Learn how a Section 127 plan can offer $5,250 in annual tax-free education benefits—see if your business qualifies.

Explore how pairing a high-deductible health plan (HDHP) with Health Savings Accounts (HSAs) can help your business reduce costs, offer tax benefits, and enhance employee benefits.

When someone passes away, most capital assets — like stocks, real estate, and crypto — are adjusted to their fair market value as of the date of death, resetting their tax basis. In some cases, the estate can use a valuation from six months later if it lowers estate taxes. Need help? We’re here to guide you through these rules and create a strategy that works for you.

If you sell a stock or mutual fund at a loss and buy a substantially identical one within 30 days, the wash sale rule applies. This rule disallows the loss for tax purposes, deferring it by adding it to the cost basis of the new shares. Proper timing is key to successfully harvesting tax-saving capital losses. Learn more.

Hiring your child to work in your small business can offer valuable tax benefits while teaching them responsibility and providing income. Learn how.

Have you Experienced Rental Property Loss? As a rental property owner, there are several strategies and exceptions that can help you deduct losses from your tax returns. Learn how.

Large business or rental losses in 2025 may be limited by IRS rules, including the Excess Business Loss cap of $313,000 (or $626,000 for joint filers). Understanding these limits is key to effective tax planning.

Thinking of lending money to a friend or family member? Learn how to properly structure a personal loan to avoid tax issues, including the importance of a written agreement, using the right interest rate (AFR), and potential tax deductions.

TCJA limits business interest deductions to 30% of ATI. Manage the deduction limit with 3 options. Read more.

At 73, RMDs from IRAs are required. Early withdrawals may face taxes and penalties. Missing an RMD incurs a 50% penalty—plan wisely!