If you buy, sell or trade digital assets, such as cryptocurrency or certain nonfungible tokens (NFTs), new reporting requirements will likely affect how your transactions are reported to and reviewed by the IRS.
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Are you subject to the alternative minimum tax (AMT)? In general, this tax applies if your “tentative minimum tax” exceeds your regular income tax liability.
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Closing a business can be overwhelming. But it’s important not to let tax duties fall through the cracks.
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IRS rules determine who can claim many child-related federal income tax breaks after parents divorce or legally separate.
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Until recently, much tax uncertainty surrounded estate planning. The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption…
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Here’s a sampling of some significant tax law changes going into effect this year: Increase of the Section 179 expensing limit…
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Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met.
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An unexpected influx of money (such as from an inheritance, bonus, legal settlement or lottery win) can feel exciting and full of possibility.
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Starting in 2026, personal casualty loss deductions will no longer be limited to federally declared disasters.
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Generally personal interest expense isn’t deductible. You might be able to deduct your car loan interest, but various rules and limits apply.
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