by Emma Harrison | Apr 26, 2023 | Tax, Uncategorized
A common question for people planning their estates or inheriting property is: Q: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families...
by Emma Harrison | Apr 7, 2023 | Blog, Tax
If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions. Basic rules Your deduction for a charitable contribution of art is...
by Emma Harrison | Mar 29, 2023 | Blog, Tax
When preparing your tax return, we’ll check one of the following statuses: Single married filing jointly married filing separately head of household qualifying widow(er). Filing a return as a head of household is more favorable than filing as a single taxpayer. For...
by Emma Harrison | Feb 22, 2023 | Blog, Tax, Uncategorized
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this year’s April 18 filing...
by Emma Harrison | Feb 1, 2023 | Blog, Business, Tax, Uncategorized
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings...
