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Home equity borrowers get good news from the IRS

Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some of the changes to longstanding deductions, including the deduction for interest on home equity loans. In response, the IRS has issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages will, in many cases, remain deductible under the TCJA — regardless of how...

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When one trustee isn’t enough, consider appointing a trust protector

April 24, 2024

Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you…

“Likes, Sponsorships, and Taxes: Navigating the Financial Frontier for US Influencers”

April 24, 2024

The explosive growth of influencer marketing has opened up new frontiers for entrepreneurship, but it has also exposed a significant…

Scrupulous records and legitimate business expenses are the key to less painful IRS audits

April 19, 2024

If you operate a business, or you’re starting a new one, you know records of income and expenses need to…

Don’t skip out on planning for the GST tax

April 17, 2024

Does your estate plan call for making gifts to your grandchildren or other loved ones more than one generation below…

Update on retirement account required minimum distributions

April 15, 2024

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required…

2024 Q2 tax calendar: Key deadlines for businesses and employers

April 12, 2024

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of…