Taxes
Latest Taxes News
Wash Sale Rule for Stocks: Tax Deductions
Selling a stock at a loss can be a useful tax strategy. The loss may offset capital gains and, in…
Unrealized Gains: Favorable vs. Unfavorable Tax Treatment
An investment can increase substantially in value without creating an immediate federal income tax bill. In a taxable account, gains…
Trust 65-Day Rule: How Distributions Affect Beneficiary Taxes
The 65-day rule can give certain trusts more flexibility when deciding when to distribute income to beneficiaries. The IRS may…
How Much Does a Dependent Reduce Taxes on a Paycheck?
Claiming a dependent does not reduce the taxes taken from each paycheck by a fixed amount. Instead, dependents may make…
How to Avoid Capital Gains Taxes on an Inherited House: Strategies and Examples
Inheriting a house does not mean that you automatically owe capital gains tax. In most cases, the home’s value at…
LLC vs. LLP: Tax Treatments and Investor Protections
Choosing a business structure is one of the first major decisions entrepreneurs and investors face. It’s choice that can have…
LP vs. LLP: Tax Treatments and Investor Protections
If you are thinking about starting a business with partners or investing in a partnership opportunity, choosing between a limited…
Top Treasury Tax Official’s Departure Deepens Leadership Crisis At IRS
Ken Kies, the Treasury Department’s top tax policy official who has also been serving as acting chief counsel of the…
When Do Dependents File Taxes? Rules and Triggers
Dependents may be required to file their own federal tax return depending on the type and amount of their income.…
Tax Professional for LLC: Services and Examples
Running an LLC offers flexibility and liability protection. But alongside those benefits comes a layer of complexity that can catch…
