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Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median price of homes sold in July of

Here are three tax breaks for small businesses to consider. 1. Claim bonus depreciation or a Section 179 deduction for asset additions Under current law, 100% first-year bonus

A business may be able to claim a federal income tax deduction for a loss due to theft. But does embezzlement count as theft? In most cases it

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires, and other disasters. No matter where you live, unexpected disasters may cause damage to

In order to prepare for a business audit, an IRS examiner generally does research about the industry and issues on the taxpayer’s return. Examiners may use IRS “Audit

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there

If you’re getting a divorce and you’re a business owner, tax issues can complicate matters. In many cases your business ownership interest is one of your biggest personal

There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without them losing eligibility for government benefits to which

What if you decide, or are asked, to guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation

If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students

If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person