Why it’s important to plan for income taxes as part of your estate plan

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax.

Tax Implications | Working from home & collecting unemployment

Are you fortunate to be working from home because of the pandemic? Or have you lost your job and collecting unemployment due to COVID-19? Both of these situations could have tax implications.

Homebuyers: Can you deduct seller-paid points?

Homes have always been the foundation of our lives, but due to the pandemic, it is even more true that THERE IS NO PLACE LIKE HOME.

Can’t pay your income taxes on time?

What happens if you (or someone you know) can’t pay taxes on time?

Tax Tips – Good records are the key to tax deductions and trouble-free IRS audits

Many of you owning small business, start- up companies or plan to start up a company during this crazy time, you may be wondering how important record keeping is to your business.

IRA account value down? It might be a good time for a Roth conversion

Many people are wondering what they can do to cope with the current financial situation that is occurring due to the coronavirus (COVID – 19) pandemic. One area that you may want to take a look at are your retirement accounts.
The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000.

COVID-19 makes favorable changes to “qualified improvement property” – 100% bonus now or retroactive!

Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time. And if you buy one, you may be eligible for a federal tax break.

The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000.