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Are you and your spouse considering “splitting” gifts?

Are you and your spouse considering “splitting” gifts?

by angieduran | May 9, 2022 | Uncategorized

Gift splitting can be a valuable estate planning tool, allowing you and your spouse to maximize the amount of wealth you can transfer tax-free. But in some cases, it can have undesirable consequences, so be sure that you understand the implications before making an...
Want to turn a hobby into a business? Watch out for the tax rules

Want to turn a hobby into a business? Watch out for the tax rules

by angieduran | May 4, 2022 | Uncategorized

Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on...
Thinking about converting your home into a rental property?

Thinking about converting your home into a rental property?

by angieduran | May 3, 2022 | Uncategorized

In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the financial risks and rewards. However, you also should know that renting out your home carries...
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Recent Posts

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  • Understanding the “step-up in basis” when inheriting assets
  • What tax documents can you safely shred? And which ones should you keep?
  • Turning stock downturns into tax advantages

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