Ideas & Insight

Hit the jackpot? Before you celebrate, understand the federal tax rules for lottery and gambling winnings to avoid surprises at tax time.

Cash or accrual accounting? See how each method impacts taxes and whether your business qualifies for the cash method.

Don’t wait until year end — review your tax strategy now to maximize potential savings.

S corporation or LLC? Learn the key tax, liability and operational differences to help you choose the right structure for your new business.

Will your Social Security benefits be taxed? Learn how provisional income, IRS thresholds and the senior deduction affect your federal tax liability.

Your side gig could be taxed as a business or a hobby. Learn how the classification affects deductions and losses.

Selling your home? Learn when capital gains taxes may or may not apply and how exclusions can help you avoid additional taxes.

If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, a Section 1031 like-kind exchange may allow you to defer tax on some or all of the gain. With this transaction, you exchange one property for […]

Losing a job is stressful enough without unexpected tax consequences. Understanding the rules around unemployment benefits, health coverage, and retirement accounts can help you avoid unnecessary taxes and penalties.

If you’re self-employed, you can offset your business income with various business-related expenses. Learn about five examples that may apply to you.