Sold or Thinking of Selling Your Home?
If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. We cover some important points to consider in this week’s Tax Tip.
Small Businesses Can Benefit from the Work Opportunity Tax Credit
Small-business owners: If you’re looking to hire, consider looking at your state workforce agency, 10 targeted groups, for your next employee. You may be eligible for the Work Opportunity Tax Credit (WOTC), up to $2,500.
Diversifying Your Portfolio with International Flair
Investing internationally provides access to growth opportunities outside the United States, which may boost returns and/or enhance diversification in your portfolio.
Merging Your Money When You Marry
When two become one, you need to communicate clearly because the financial decisions that you make now can have a lasting impact on your future.
Life Insurance Living Benefits
Life insurance policies may include provisions that allow you to access some or all of the death benefit while you are living, which may benefit your family if you have a terminal, chronic or critical illness.
Rising Rates Join Long List of Housing Dilemmas
Homebuyers braving the hot U.S. housing market have run headlong into a striking transition. The average interest rate for a 30-year fixed mortgage jumped from around 3.2% at the beginning of 2022 to 5.3% in mid-May, the highest level since 2009. This rise was sparked by the Federal Reserve’s commitment to raise the federal funds…
Writing Off Your Business Start-Up Expenses
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
IRS Releases 2023 Key Numbers for Health Savings Accounts
The IRS has released the 2023 contribution limits for health savings accounts (HSAs), as well as the 2023 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs).
Vacation Home Rentals: How the Income Is Taxed
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, you may have questions about how rental income is taxed for a part-time vacation-home rental. We explain in this week’s Tax Tip.
Despite Concerns, Retirement Confidence Remains Steady
Survey says: Nearly three quarters of workers and 77% of retirees in a recent survey said they remain at least somewhat confident that they will experience a comfortable retirement. See if your long-term financial-planning priorities are in line.