Taxes
Passive Activity Investments Can be a PIG Deal
This technique can be especially beneficial at the end of the year when you may be looking to offset highly-taxed income.
Ken Berry
CPA Practice Advisor Tax Correspondent
Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
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Taxes
How to Achieve a 0 Percent Capital Gains Tax Rate
Your gains and losses are short-term or long-term. Short-term loses reflect sales of assets held a year or less. Long-term gains are for sales of assets held longer than a year.
Payroll
Strategies for Retirement Withdrawals (RMDs)
Of course, every situation different, but the conventional wisdom is to withdraw from taxable accounts first, tax-deferred accounts second and tax-free accounts third.
Taxes
The Employer and Employee Tax Benefits of Group Term Life Insurance
Because employees are insured as a group, the overall cost is less expensive than it would be for individual policies.
Taxes
5 Family-Based Income Tax Breaks
Families may be eligible for certain tax benefits along the way. Here are five of the main tax breaks on the books.
Taxes
Employers Can Get a Tax Benefit for Providing Gym Access
Although this tax break has been on the books for decades, several special rules may come into play.
Taxes
Tax Benefits of 2023 Year-End Charitable Gifts
Keep this tax break in your hip pocket as the year winds down.
Financial Planning
New Employer Rules for 401(k) Catch-Up Contributions
The new SECURE 2.0 law adds another layer, beginning in 2025, for participants who are age 60 through 63.
Income Tax
How to Get a Tax Break for Temporary Work Assignments
The IRS often views business travel expense deductions with a healthy dose of skepticism. Consult with your professional tax advisor to ensure you’re on firm ground.
Income Tax
4 Ways to Deduct Commuting Costs from Taxes
To qualify for transportation deductions, you must be traveling away from your tax home to a business location.
Benefits
Year-End Moves for Flexible Spending Accounts
If your company doesn’t offer either option, try to empty out your account before January 1.
Income Tax
How to Avoid the "BIG" Tax on S Corp Conversions
The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.