Generation Skipping Trusts Explained
A generation-skipping trust (GST) is an irrevocable trust with designated beneficiaries who are, at least, 37.5 years younger than the grantor and may, or [...]
20
07, 2022
13
07, 2022
The Tax Rules of Renting Out a Vacation Property
Many vacation homeowners tend to rent out their homes for part of the summer. If this is your first-year renting, or maybe you’re looking [...]
29
06, 2022
Lifetime Gifting – Annual Exclusion
Gifting assets to someone during your lifetime can be an effective estate planning strategy. Lifetime gifting can provide your beneficiaries with immediate use of [...]
16
02, 2022
Standard Mileage Rates to Go Up in 2022
As of January 1st, 2022, the standard mileage rate for business use of a car, van, pickup truck, or panel truck has risen to [...]
9
02, 2022
Ways to Pay Taxes – Year-End
Tax season is here and not only is it time to start collecting your tax documents but you will also want to consider your [...]
2
02, 2022
Real Estate Activity Compliance
As a landlord, it is not only important to collect rent on time each month, but it is just as important to keep accurate [...]
26
01, 2022
2021 Tax Filing Checklist
As tax filing season begins there are many things you can do as a taxpayer to prepare yourself and your accountant for a stress-free [...]
5
01, 2022
How Sick Leave is Reported on a W2
Background The Cares Act created the sick leave tax credit which allows employers to get a credit for time employees were out of work [...]
29
12, 2021
Home Office Deductions
Each year, including this year, 2021, the IRS offers a home office deduction which is available to self-employed individuals. People who work from home [...]
20
12, 2021
IRS Clarifies Temporary 100% Deduction for Restaurant Meals and Per Diem Payments
The IRS has released Notice 2021-63, which clarifies the temporary 100% business meals deduction for food or beverages from restaurants in 2021. Normally, there [...]