Adam’s Tax Blog

Note: Tax advice, articles, and content contained on this site are intended for informational and educational purposes only. They are not a substitute for professional advice. Tax matters are can be extremely complex and vary greatly for each individual or company. Please click here to read our complete disclosure and disclaimer for the information presented on this site.

The Tax Aspects of Selling Mutual Fund Shares

The Tax Aspects of Selling Mutual Fund Shares

Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved...

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Do You Want To Go Into Business For Yourself?

Do You Want To Go Into Business For Yourself?

Many of the people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that type of business entity. 1. You may qualify for the pass-through deduction. To the extent your business generates...

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There Still Might Be Time to Cut Your Tax Bill with IRAs

There Still Might Be Time to Cut Your Tax Bill with IRAs

If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d like it to be, you may still have an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA up until the Wednesday, April 15,...

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Answers to Your Questions About 2020 Individual Tax Limits

Answers to Your Questions About 2020 Individual Tax Limits

At this point in time, you may be more concerned about your 2019 tax bill than you are about your 2020 tax situation. That’s understandable because your 2019 individual tax return is due to be filed in less than three months. However, it’s a good idea to familiarize...

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Can You Deduct Charitable Gifts on Your Tax Return?

Can You Deduct Charitable Gifts on Your Tax Return?

Many taxpayers make charitable gifts, both because they’re generous and because they want to save money on their federal tax bills. But with the tax law changes that went into effect a couple years ago under the TCJA and the many rules that apply to charitable...

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4 New Law Changes That May Affect Your Retirement Plan

4 New Law Changes That May Affect Your Retirement Plan

If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes....

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