Taxes When You Sell an Appreciated Vacation Home
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when [...]
The Pros and Cons of Turning Your Home Into a Rental
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and two-bedroom residences were $1,487 and $1,847, respectively, according to [...]
Watch Out for “Income in Respect of a Decedent” Issues When Receiving an Inheritance
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to be too good to be true. While most inherited property is tax-free [...]
Essential Guide to Business Valuation for Business Owners
Understanding the value of your business is crucial for making informed decisions whether you're considering selling, seeking investment, or planning for future growth. Business valuation might sound complex, but it’s all about using the right [...]
Keep These 3 Issues in Mind After You File Your Return
The tax filing deadline for 2023 tax returns was April 15 this year. If you filed for an extension, you have until October 15. In either case, once your 2023 tax return has been successfully [...]
A General Look at Generative AI for Businesses
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects of our lives. One widely cited example is ChatGPT, an AI [...]