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Smart timing of deductible expenses can reduce your tax liability, but poor timing can unnecessarily increase it. When you don’t expect to be subject to the alternative minimum

In our last post we discussed how Donald Trump’s proposed tax plan could possibly affect businesses. In this post we’ll discuss how his plan could affect individuals. President-elect

Donald Trump’s election as President of the United States could result in major changes to the tax law in 2017. Proposed changes spelled out in Trump’s tax reform

Saving for retirement can be tough if you’re putting most of your time and money into operating a small business. However, many retirement plans aren’t difficult to set

If you hold investments outside of tax-advantaged retirement plans, you may be able to take steps before year end to reduce your 2016 tax liability. Offsetting gains with

Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be claimed on most cars and light trucks. So,

Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services currently being performed. They differ from qualified plans, like 401(k)s, in that: NQDC

Many tax breaks are reduced or eliminated for higher-income taxpayers. Two that you need to watch out for are the itemized deduction reduction and the personal exemption phase-out.

Generally, commercial buildings and improvements are depreciated over 39 years. This essentially means you can deduct a portion of the cost every year over the depreciation period. (Land

Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. Consider installment sales, for example.

In addition to income tax, Social Security and Medicare taxes are collected on earned income, such as salary and self-employment income. The 12.4% Social Security tax applies only

Until recently, estate planning strategies typically focused on minimizing federal gift and estate taxes, such as by giving away assets during life to reduce the taxable estate. Today,