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Can investors who manage their own portfolios deduct related expenses?
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical...
ConnollySteele
Nov 28, 20202 min read


The tax rules for deducting the computer software costs of your business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or...
ConnollySteele
Nov 28, 20202 min read


There may be relief from tax liability for “innocent spouses”
In some cases, a married couple files a joint tax return and one spouse doesn’t disclose all of his or her income. The IRS goes after the...
ConnollySteele
Nov 28, 20203 min read


The 2021 “Social Security wage base” is increasing
Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The Social Security Administration just...
ConnollySteele
Nov 28, 20202 min read


Buying and selling mutual fund shares: Avoid these tax pitfalls
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already...
ConnollySteele
Nov 28, 20202 min read


Employees: Don’t forget about your FSA funds
Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible...
ConnollySteele
Nov 26, 20202 min read


The importance of S corporation basis and distribution elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business...
ConnollySteele
Nov 26, 20202 min read
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