ARTICLES

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!

2025 inflation adjustments mean higher tax breaks, more retirement savings, larger FSAs, and bigger gift tax limits to save you money.

Self-employment tax is 15.3%, paid quarterly. Learn what to expect & consult a VAAS Tax Professional to manage taxes.

TCJA limits vehicle deductions however, self-employed CAN claim work miles, while others can only claim medical, charity, & military moves.

Plan tax-saving strategies for 2024. Maximize deductions, delay income, contribute to retirement, and donate smartly from IRAs.