Fall is a great time to seel your home, and if you’re planning to put your home on the market soon, you’re probably worrying about if it makes sense to give it a new coat of paint, or clean out the garage and basement. You are also probably worrying about how long it will take...
The Head of Household status is considered to be the most advantageous filing status because taxpayers who qualify get a higher standard deduction and wider tax brackets compared to the single filing status. The Head of Household standard deduction will be $18,350 for tax year 2019 compared to single taxpayers and married individuals filing separately,...
Recently separated or divorced from your spouse? Considering a break-up? Here are some important tax rules to keep in mind: 1. You’re still considered married by the IRS if your divorce is not yet final as of December 31, even if you or your spouse filed for divorce earlier in the year. 2. If the...
Time is running out if you have been considering investments in qualified opportunity zone properties and businesses. The deadline to get the full 15 percent step-up in basis afforded to realized capital gains is December 31, 2019. Opportunity Zones are a way to encourage more investment in economically distressed communities. They were slow in gathering...
How entangled should your personal and business finances be? Many small-business owners may be put in a precarious situation if they commingle funds and then things go sour during the pandemic and ensuing recession. Paying your business expenses from your personal accounts puts you at risk for possible personal liability. Resist the urge to pay...
