by Paula Kennedy, EA | Jun 25, 2024 | Blog, Business, Tax, Uncategorized
With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. Benefits for your child There are special tax breaks for hiring your...
by Paula Kennedy, EA | Jun 5, 2024 | Business, Tax, Uncategorized
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts,...
by Paula Kennedy, EA | May 29, 2024 | Blog, Tax, Uncategorized
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four...
by Paula Kennedy, EA | May 1, 2024 | Uncategorized
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home. Scenario 1: You’ve never used...
by Paula Kennedy, EA | Apr 17, 2024 | Blog, Tax, Uncategorized
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and two-bedroom residences were $1,487 and $1,847, respectively, according to the latest Zumper National Rent Report. In some parts...
