by angieduran | Jul 12, 2023 | Uncategorized
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the rules work? Under the current fair market value basis rules (also known as the “step-up and step-down” rules), an heir...
by angieduran | Jul 12, 2023 | Uncategorized
Construction business owners are regularly urged to buy the latest and greatest software. But no such tool is perfect. Off-the-shelf products don’t always provide the specific functionality needed or “play well” with other systems. All this hassle might lead some...
by angieduran | Jul 6, 2023 | Uncategorized
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls or regular mail. Criminals regularly target both individuals and businesses and...
by angieduran | Jun 28, 2023 | Uncategorized
The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audits these days, that will be little consolation...
by angieduran | Jun 21, 2023 | Uncategorized
When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception...
by angieduran | Jun 16, 2023 | Uncategorized
Many people move during the summer. If you are selling your home you may qualify to exclude all or part of any gain from the sale from your income when filing your tax return. When selling a home, homeowners should think about: Ownership and use To claim the...
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