If you use an installment sale to help sell property, you can benefit from tax deferral and possibly lower your overall tax bill. But you need to watch out for certain tax traps if you do. Installment sale defined Generally, you create an installment sale when you receive payments for sold property in the
The recently passed One Big Beautiful Bill Act (OBBBA) addresses some tax law uncertainty while creating several benefits impacting your 2025 tax return. One of these benefits is a new $6,000 deduction for seniors. Here is what you need to know. The Changes Personal exemptions are gone. First and foremost, the law permanently eliminates personal
Whether you operate a small local business or an expansive multimillion-dollar corporation, safeguarding the financial health of your company is a top priority. However, because running a successful business is a complex venture involving multiple different parties, issues are bound to arise. It might be an internal dispute between business partners, a conflict with a
SSN theft is still a major problem! With the dramatic increase in identity theft, now is a great time to remind yourself of the basics to reduce the risk of having your Social Security number (SSN) stolen. Here are some ideas. Do not carry your Social Security card with you. Your parents were encouraged to
Summer is usually the time for relaxing, but it can also be a time for tax savings, especially if you’re still reeling from an unexpectedly large tax bill in April. Here are five timely tips: Rent your home. If you rent out your main home or a vacation home part of the time, you may
Mergers and acquisitions (M&As) take place every day in the business world. Whether the goal is to acquire new talent or expand their market reach to increase revenue, Companies large and small can benefit from these strategic transactions—provided they are carried out with thoughtful planning and the expertise necessary to ensure a smooth transition. A
With the pending tariffs and turbulent markets, the last thing on most taxpayers minds is tax planning. But in the midst of all this turmoil is the potential for tax saving activity available to those willing to plan accordingly. Here is what you need to know. In a turbulent market, transferring securities during a dip
Summertime often sees an increase of natural disasters, with hurricane season soon after. You may want to help, but you want to make sure the organizations are not a scam. And while fewer taxpayers itemize deductions, those that do want to ensure there deductions are legitimate. Here are some tips on how to research
Building a strong legal case doesn't happen overnight. From the initial investigation stage to filing the required pleadings, preparing and answering discovery, and ultimately presenting your case in court, it can take months to see the results of your efforts—and a successful outcome is often the result of a highly effective team. In addition
Age does matter, when it comes to tax obligations One of the elements that make our Federal Tax Code so hard to follow is that different laws apply to you based on you or your dependents’ age. To help you navigate through some of this maze, here is a chart that outlines key ages