Is an LLC the Right Choice for Your Small Business? cover

Is an LLC the Right Choice for Your Small Business?

Is your small business a sole proprietorship? Do you want to form an LLC? Learn the basic information and tax perks you need to know to operate an LLC.
Should You Be Keeping Home Improvement Records? cover

Should You Be Keeping Home Improvement Records?

Many taxpayers don’t keep home improvement records. However, records are important if you want to take advantage of the tax code’s exclusion for home gains.
Vacation Home Rentals and Income Tax: What You Need to Know cover

Vacation Home Rentals and Income Tax: What You Need to Know

Have questions about rental income tax for a part-time vacation home rentals? The applicable rental rules include some twists that you should know about.
You Can Now Receive a Tax Credit for Buying a Used Electric Vehicle cover

You Can Now Receive a Tax Credit for Buying a Used Electric Vehicle

This is the first time used electric vehicles have qualified for a tax credit. This provides an incentive for taxpayers to acquire an electric vehicle.
Roundup of Individual Tax Changes For 2023 cover

Roundup of Individual Tax Changes For 2023

Two recent pieces of tax legislation have created several tax changes for 2023. The legislation includes the Inflation Reduction Act and the Secure 2.0 Act.
How Employee Stock Options Are Taxed cover

How Employee Stock Options Are Taxed

There are two basic types of employee stock options for tax purposes: a non-statutory option and a statutory option. Their tax treatment is very different.