Rules for managing tax basis on stock sales worth a look

Aug. 22, 2017

A recent Tax Court decision and pending tax reform proposals have intersected in highlighting how stock sales can be timed for maximum tax advantage. The taxpayer in a recent case […]

What is a limited liability company?

Aug. 17, 2017

A limited liability company (LLC) is a business entity created under state law. Every state and the District of Columbia have LLC statutes that govern the formation and operation of […]

401(k) loan taxable when payments missed

Aug. 15, 2017

A loan from a 401(k) plan can be a valuable source of funds, especially when most other avenues for quick cash are unavailable. Aside for the admonition that retirement savings […]

Does your nonprofit want to grow? The considerations of a merger

Jul. 31, 2017

Most nonprofit organizations view growth as a necessary objective, just like their for-profit counterparts. According to the recent Nonprofit Finance Study by software and service provider Abila (Abila study), 80 […]

Tax tips for newlyweds

Jul. 25, 2017

With everything going through newlyweds’ minds, taxes might not be at the top of the list. However, it is worth considering how the nuptials can affect tax situations. The IRS […]

How the biennial budget will affect Ohio taxpayers

Jul. 12, 2017

Governor John Kasich’s final biennial budget signed into law on July 3 includes several provisions that will affect Ohio taxpayers. Below are some of the effects of Ohio biennial budget. […]

How do I use low interest rates to my tax advantage?

Jun. 28, 2017

Certain planning techniques involve the use of interest rates to value interests being transferred to charity or to private beneficiaries. While the use of these techniques does not necessarily depend […]

What are passive losses?

Jun. 26, 2017

Individuals, trusts, estates, personal service corporations and closely held C corporations may only deduct passive activities losses from passive activity income. The rules do not apply to S corporations and […]

How do I safeguard against natural disasters?

Jun. 22, 2017

IRS released a number a tax tips, reminders, and other advice to help taxpayers weather the storm of natural disasters and similar emergencies. The underlying theme for all IRS “tax […]

Rental income and expenses

Jun. 13, 2017

There are several things to consider when you are the owner of a rental property. As the owner, you want to take advantage of any expenses that you can deduct. […]