Tax Central

November 25, 2024

Explore child and dependent care tax credits by state. Learn about eligibility, credit rates, and limitations to maximize your savings during tax season.

November 20, 2024

Here are the December 2024 Business Due Dates

November 20, 2024

Here are the December 2024 Individual Due Dates

November 21, 2024

Learn how innovative strategies like tax-aware long-short investing are making tax-loss harvesting smarter and more efficient for modern investors in today’s market.

November 21, 2024

The holiday season is a time of joy, gratitude, and giving. As people reflect on their blessings, many feel compelled to give back to their communities and support charitable causes.

November 19, 2024

As the year draws to a close, it's crucial to take stock of your financial situation and make strategic moves to minimize your tax liability.

November 10, 2024

Here is a quick reminder of essential year-end tax planning tips to help you maximize your financial potential and save on your 2024 taxes.

November 11, 2024

Tax planning is a crucial aspect of financial management, yet it often remains underestimated by many taxpayers.

November 7, 2024

Stay informed about possible tax changes under President Trump’s new term.

November 5, 2024

The holiday season is a time of giving, and while the joy of gifting is often its own reward, there are ways to make your generosity even more impactful through strategic tax planning.

October 26, 2024

Watch this video for little-known details about Home Solar Credit that may influence a taxpayer’s decision about acquiring a solar system.

October 29, 2024

Navigating the U.S. tax system can be a complex task, especially for non-resident aliens.

October 31, 2024

The purchase of a new vehicle is often a significant investment, and consumers expect their new cars to function reliably.

October 31, 2024

Discover how billionaires store art in freeports to legally avoid taxes on purchases, sales, and capital gains while securing their valuable assets.

October 29, 2024

Facing competition, California aims to retain its entertainment industry by increasing film and TV tax credits to $750M, securing jobs and halting runaway production.

March 23, 2024

Here are the April 2024 Individual Due Dates

December 22, 2015

Thieves use taxpayers’ natural fear of the IRS and other government entities to ply their scams, including e-mail and phone scams, to steal your money. They also use phishing schemes to trick you into divulging your SSN, date of birth, account numbers, passwords and other personal data that allow them to scam the IRS and others using your name and destroy your credit in the process. They are clever and are always coming up with new and unique schemes to trick you.

June 25, 2021

Planning on flipping houses? Check out this helpful video for a quick summary of what you should know about tax treatments.

October 21, 2024

The Internal Revenue Service has announced tax relief for individuals and businesses in parts of Florida that were affected by Hurricane Milton that began on Oct. 5, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

October 17, 2024

Tax preparers often encounter clients who are confused about the various tax credits available to them. Understanding these credits can significantly impact your tax liability and, in some cases, result in a refund.

October 20, 2024

Here are the November 2024 Individual Due Dates

October 18, 2024

Wealthy Americans in the UK face huge tax hikes with changes to non-dom rules. Learn how this could push high-net-worth individuals to reconsider their residency.

October 15, 2024

As we step into 2025, millions of Americans are set to experience a notable change in their Social Security benefits.

October 8, 2024

The Internal Revenue Service has announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia.

October 2, 2024

Shohei Ohtani’s 50/50 ball is up for auction! Find out how taxes could take a big bite out of the final sale and why timing is everything for the lucky seller.

October 3, 2024

Household employees play a crucial role in many homes, providing essential services such as childcare, eldercare, housekeeping, and gardening.

September 27, 2024

Tax avoidance is as old as taxes themselves. Discover the strangest tax avoidance schemes in history that have left tax authorities scratching their heads.

September 29, 2024

The IRS has hobby loss rules to determine whether an activity is a hobby or a business. Watch this video to learn more.

September 19, 2024

Here are the October 2024 Individual Due Dates

September 19, 2024

It is crucial to understand that the October 15 tax filing deadline is final. The IRS does not offer any further extensions beyond this date. If you have not filed your 2023 return by October 15, you will be subject to penalties and interest on any unpaid taxes.

September 17, 2024

The Internal Revenue Code Section 25C credit, also known as the Energy Efficient Home Improvement Credit, is a valuable tax incentive for homeowners who make qualifying energy-saving improvements to their existing homes.

September 10, 2024

Looking to save money as the end of the year approaches? Tax-free weekends are a fantastic opportunity! Find your September-December 2024 guide here.

September 10, 2024

Ah, game shows! The glitz, the glamour, the chance to win fabulous prizes! Who hasn't dreamed of spinning the big wheel on

September 3, 2024

The Form 706, also known as the United States Estate (and Generation-Skipping Transfer) Tax Return, is a critical document in estate planning and tax management.

August 29, 2024

Equitable ownership refers to the situation where an individual possesses the benefits and burdens of ownership of a property, even though they do not hold the legal title.

August 27, 2024

Are you earning money on Twitch or competing in major esports competitions? If so, the tax tips in this guide are for you. Read more now.

August 21, 2024

Should tips be tax-free? Trump and Harris both think so. Discover how recent proposals could change tipping culture forever.

August 27, 2024

Taxpayers are limited in the annual amount they can contribute to a Roth IRA.

August 21, 2024

Here are the September 2024 Individual Due Dates

August 13, 2024

In the digital age, crowdfunding has emerged as a revolutionary way for individuals and businesses to raise funds for a wide array of projects, from innovative products and artistic endeavors to personal causes and community projects.

August 15, 2024

The installment sales method is a significant tool for taxpayers selling a rental property at a gain, offering a way to spread tax liability over the period in which the sale proceeds are received.

August 8, 2024

The intricacies of tax law, particularly around rental real estate, can be both a boon and a bane for investors.

August 6, 2024

Who are you going to vote for in November? Although taxes may not be the sole item leading to your decision of who to vote for in the Fall elections, it is one of many factors to consider.

August 1, 2024

The Foreign Earned Income Exclusion (FEIE) under Section 911 of the U.S. Internal Revenue Code allows U.S. citizens and resident aliens living abroad to exclude a portion of their foreign earned income from U.S. taxation.

July 23, 2024

When watching the Paris Olympics this summer, think of the athletes pushing the boundaries of human potential.

July 22, 2024

Here are the August 2024 Individual Due Dates

July 21, 2024

Senior citizens are struggling to pay property taxes nationwide. Here’s what some states are doing to save their aging population.

July 18, 2024

The taxation of damages and their deductibility by the payer is a complex area of tax law that intersects with various types of legal settlements and court awards.

July 15, 2024

Have you ever wondered what the most common tax mistake in America is? We’ve got the answer.

July 16, 2024

Owning a dwelling unit that is used as a vacation home can be a dream come true, offering a personal retreat and potential rental income. However, the tax implications of renting out a vacation home can be complex.

July 12, 2024

Discover key tax and financial planning strategies for Boomers and Gen Xers nearing retirement. Learn how to maximize contributions, optimize Social Security, manage debt, and plan for healthcare and estate needs.

June 27, 2024

Historical taxes ranged from human urine to beards to hats! Discover the top 12 strangest taxes in history here.

June 25, 2024

Soda taxes are being implemented in major cities across the country. Find out how Seattle’s tax is reducing childhood obesity, and could impact the rest of the nation.

June 20, 2024

Adoption can be a life-changing journey for many families, offering a unique opportunity to grow a family and provide a loving home to a child in need.

June 20, 2024

Here are the July 2024 Individual Due Dates

June 13, 2024

In the intricate world of tax law, political donations occupy a unique space, blending civic engagement with financial implications.

June 11, 2024

Underpayment penalties are a common concern for taxpayers, and many are unaware of how substantial they can be.

May 30, 2024

Considering recent natural disasters, the IRS extended the normal April 15 deadline for filing certain tax returns for some affected taxpayers until June 17, 2024.

May 22, 2024

Here are the June 2024 Individual Due Dates

May 23, 2024

In an effort to prevent high-income parents from exploiting tax benefits by shifting their investment income to their children, who typically fall into lower tax brackets, the U.S. Congress introduced the

May 21, 2024

Navigating the taxation landscape of legal settlements and the deductibility of associated legal fees can be a complex endeavor.

May 19, 2024

Did you know there are certain circumstances in which pet owners can claim tax deductions for their furry friends? Find out if you qualify!

May 12, 2024

Dive into the world of ‘superfake’ handbags and how these impressive replicas can wreak havoc on taxation around the world. Full details.

May 14, 2024

Medicaid waiver payments have become a significant aspect of the healthcare and tax landscape in the United States, especially for individuals and families providing care to those who would otherwise require institutionalized services

May 7, 2024

A frequent question, and a situation where taxpayers often make tax mistakes, is whether it is better to receive a home as a gift or as an inheritance.

May 9, 2024

In the labyrinth of financial planning and tax-saving strategies, Health Savings Accounts (HSAs) emerge as a multifaceted tool that remains underutilized and often misunderstood.

May 2, 2024

For families who have disabled children or children with special needs, tax laws provide opportunities to save substantial amounts of money at tax time. Here is a rundown of tax-deductible expenses that parents may benefit from in addition to normal medical expenses.

April 20, 2024

Here are the May 2024 Individual Due Dates

April 16, 2024

The Recovery Rebate Credit was designed for those who did not receive one or both Covid-19 pandemic-related stimulus checks they were entitled to in 2020.

April 18, 2024

Using the installment sale method of receiving and reporting the gain from the sale of a capital asset can spread that gain over multiple years and possibly avoid the higher capital gains rates as well as avoid or minimize the 3.8% surtax on net investment income.

April 2, 2024

If you have not yet filed your 2020 federal tax return and have a refund coming, time is running out! The IRS estimates that there are about 940,000 taxpayers who have not filed their 2020 tax returns and that there is over $1 billion dollars of unclaimed refunds available for those taxpayers.

March 14, 2024

President Biden released the highlights of his tax agenda for the next fiscal year during his State of the Union address before Congress on March 7, 2024, seeking higher levies on large businesses, investors, and the ultra-rich.

March 10, 2024

Stay secure during tax season with the top 10 ways to spot a tax scam. With fraud on the rise, these tips could save your hard-earned money.

February 27, 2024

If your 2023 federal tax return has already been filed and you are due a refund, you can check the status of your refund online.

February 20, 2024

Here are the March 2024 Individual Due Dates

February 14, 2024

Pakistan is cracking down on tax evaders by potentially taking away vital services like cell phones and electricity. Full story here.

February 8, 2024

Most U.S. citizens and permanent residents who work in the United States need to file a tax return if they make more than a certain amount for the year. This includes U.S. citizens and permanent residents working outside the U.S.

February 6, 2024

Due to the COVID-19 pandemic, the IRS suspended the mailing of automated reminders to pay overdue tax bills starting in February 2022.

January 22, 2024

Litter taxes are a hot topic in many parts of the United States. Discover whether the policies are working here.

January 20, 2024

Here are the February 2024 Individual Due Dates

January 18, 2024

A health Flexible Spending Arrangement (FSA) allows employees to be reimbursed for medical expenses. FSAs are usually funded through voluntary salary reduction agreements with your employer.

January 16, 2024

As people begin to have their 2023 tax returns prepared, this is a reminder to avoid unethical “ghost” tax return preparers.

January 11, 2024

Back in late 2017 Congress passed the Tax Cuts & Jobs Act of 2017 (TCJA) that made enormous changes to income tax laws as outlined below.

January 3, 2024

The New York Mets have been hit with unprecedented tax penalties following the 2023 MLB season. Full details here.

December 22, 2023

A surprising new Ohio Senate bill could profoundly impact sports betting taxes around the nation. Learn more.

December 22, 2023

Here are the January 2024 Individual Due Dates

December 21, 2023

In the complex world of financial and legal matters, there are times when you may need to authorize a third party to represent you when dealing with the IRS. A third-party representation can be a valuable tool. But how do you navigate the different types of authorizations?

December 19, 2023

Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle, to transfer the entirety of the allowable credit to an eligible (registered) dealer. The dealer in turn applies the credit to the purchase of the vehicle. In short, the tax credit can be applied to reduce the cost of the purchase by the amount of the credit. This also make it easier for taxpayers to meet down payment requirements and avoids waiting for the credit until their tax return for the year of purchase is filed.

December 12, 2023

The answer to the question “what income is taxable?” can have some surprising outcomes, and this article explores some of the commonly encountered situations that could have unexpected results.

December 1, 2023

Healthcare systems are receiving billions in tax breaks across the country, leading to national debate. Find everything you need to know here.

December 3, 2023

On December 5, the United States Supreme Court will hear a court case that could hugely impact the American tax code. Learn about wealth taxes.

November 27, 2023

Is your income lower than usual this year? Here are some tax planning opportunities you should take advantage of.

November 24, 2023

Here are the December 2023 Individual Due Dates

November 22, 2023

Year-end is rapidly approaching, as are the holidays. So, before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022 2023 and 2023 2024. Here are last-minute tax issues you might consider:

November 16, 2023

Gift and estate taxes are both part of the federal transfer tax system and are interconnected.

November 7, 2023

Do taxes have you feeling like you’ve stumbled into a secret society with its own language? Crack the tax code with this essential guide to tax jargon…for everyone!

November 10, 2023

Acknowledging a mistake on your tax return is the first crucial step. Learn the next steps.

November 7, 2023

The Kiddie Tax was introduced in 1986 to prevent high-income parents from shifting their investment income to their children, who typically fall into lower tax brackets. While the term “Kiddie Tax” isn’t used in the tax code, it does succinctly describe this tax. The tax applies to unearned income, such as dividends, interest, and capital gains, of certain children under the age of 19, or under 24 if they are full-time students who aren’t self-supporting.

November 2, 2023

Discover the critical steps to safeguard your family's financial future. Learn how to address common challenges, from unpaid debts to tax issues, and create a comprehensive estate plan for lasting peace of mind.

November 2, 2023

As the world becomes increasingly globalized, businesses are expanding their operations across borders, employing individuals from various nationalities. One group that often presents unique tax considerations is nonresident aliens. Understanding the taxation and withholding requirements for these individuals is crucial for both the nonresident alien and a U.S. employer.