ConnollySteele2 days ago2 minWatch out for “income in respect of a decedent” issues when receiving an inheritanceMost people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out...
ConnollySteele2 days ago2 minWhen businesses may want to take a contrary approach with income and deductionsBusinesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But...
ConnollySteele2 days ago3 minThe pros and cons of turning your home into a rentalIf 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-...
ConnollySteele2 days ago2 minDon’t have a tax-favored retirement plan? Set one up nowIf your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow...