Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if the price of the underlying…
Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out of a traditional IRA or 401(k) account but if you’re under age 59½, such…
You probably fall into one of two categories: You don’t know or care about Form 1099-K reporting (even though it might apply to you); or You’ve been stressing about how you’re going to comply with the Form 1099-K reporting requirements…
If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a sole-proprietorship, a C corporation, or a pass-through entity such as a partnership,…
Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups…
With the rising cost of college, many families are in search of scholarships to help pay the bills. If your child is awarded a scholarship, you may wonder about how it could affect your family’s taxes. Good news: Scholarships (and…
As we approach the holiday season, many companies embrace the spirit of giving by providing extra goodies to their dedicated employees. However, it's essential to be aware that what appears to be a simple gift can sometimes be viewed as…
Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, you may want to rent it out for part of the…
This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA),…
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies…