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 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.

Can You Deduct Student Loan Interest on Your Tax Return?

Can You Deduct Student Loan Interest on Your Tax Return?

The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction...

read more
The Advantages of Using an LLC for Your Small Business

The Advantages of Using an LLC for Your Small Business

If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a new business and want to know your options for setting it up. Here are the basics of...

read more
A Tax-Smart Way to Develop and Sell Appreciated Land

A Tax-Smart Way to Develop and Sell Appreciated Land

Let’s say you own highly appreciated land and now it’s ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a hefty profit, it could trigger a large tax bill. In this scenario, the tax rules generally treat you as a real...

read more
Retirement Account Catch-Up Contributions Can Add Up

Retirement Account Catch-Up Contributions Can Add Up

If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of the road. The deal with IRAs Eligible taxpayers can make extra catch-up contributions of up...

read more
That Email or Text from the IRS: It’s a Scam!

That Email or Text from the IRS: It’s a Scam!

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls, or regular mail. Criminals regularly target both individuals and businesses and...

read more