If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS...

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of...

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life...

Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three...

Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out...

If 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-...

The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can file for an extension until October...

The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes, it’s not possible to...

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required...

Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a...

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the...

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain...

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans...

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there...

Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to...

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates,...

Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But...

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law,...

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting...

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax...