Are you an older homeowner whose house has appreciated significantly? If you need additional income, there's a potential solution with a tax-saving advantage: a reverse mortgage.Reverse mortgage basicsWith a reverse...... Read More
Suppose you're considering employing a C corporation to manage a recently acquired business or to bolster an existing one with additional capital. It's important to understand that, under the federal...... Read More
Caring for an elderly relative can bring numerous rewards, such as a sense of purpose, making a positive impact in their life, and ensuring they receive quality care. Additionally, you...... Read More
Adding a new partner to a partnership entails various financial and legal implications. Consider this scenario: You and your current partners intend to bring in a new partner. This new addition...... Read More
Acting Governor Dan Patrick issued a proclamation declaring a state of disaster in certain Texas counties on July 5, 2024, amended on July 6, 2024, due to the impact of...... Read More
Imagine you own one or multiple vacant lots that are significantly appreciated, and you're prepared to sell. Or perhaps you own a parcel of appreciated land that you intend to...... Read More
It's common for partners to accumulate expenses linked to the partnership's business, particularly in service-based partnerships like architecture or law firms. For instance, partners in such ventures may accrue entertainment...... Read More
Should you choose to donate valuable items to charity and seek to claim deductions on your tax return, you might find it necessary to obtain an appraisal. The IRS mandates...... Read More
Businesses generally prefer to delay recognition of taxable income to subsequent years, while hastening deductions into the current year. But when is it wise to do the opposite? And why would...... Read More
Here are several important tax deadlines impacting businesses and employers in the third quarter of 2024. This list is not exhaustive, so there may be additional deadlines relevant to your...... Read More
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