If you’re in the market for a new or used car, you already know that prices have skyrocketed lately. According to Edmunds.com, the average vehicle is expected to cost 38% above the starting MSRP in 2022. The average transaction price…
With recent skyrocketing real estate prices, it’s tempting to consider selling your appreciated commercial or investment property. But do you want the resulting high tax bill that comes with that increased profit? A like-kind exchange can be a solution. Under…
If you’re an empty nester or just ready to reduce the time and effort involved in maintaining a larger home, you’ve probably thought about downsizing. With a smaller property, you could save money in reduced utility bills, property taxes, and…
In January 2021, online day traders trapped institutional short sellers in a short squeeze by buying up shares of the video and computer game retailer GameStop. This episode brought attention to a number of issues including the distinction between securities traders…
If you’re sending your child off to college, you’re looking for any way you can save money. When your child qualifies for a scholarship, it’s a cause for celebration! Just be aware of the possible tax ramifications so you don’t…
Providing a company-owned vehicle for employees can be a good idea for both the business and the employee. Employees who drive a lot for their job can save wear and tear on their own vehicles, while the company can enjoy…
Tread cautiously if you have received a notification from Microsoft with “Spam Notification” in the subject line. It appears to be notifying you that you have received spam, although it is the newest attempt in a long line of phishing…
In today’s tight labor market, it’s hard to remember that the federal minimum wage remains at $7.25 per hour, where it’s been since 2009. Hardly any employers are able to attract and retain employees at that rate, and 30 states…
The IRS has announced that the 2022 mileage rate for operating an automobile for business will be 58.5 cents per mile, up from 56 cents per mile in 2021. The business mileage rate is used when an employee drives their…
The Alternative Minimum Tax (AMT) is a separate income tax that can apply to high income individuals. Nobody wants to pay more tax than necessary, so it’s common for people to take advantage of various tax benefits that reduce their…