Tag: Individual Tax

Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Below are answers to FAQs regarding

If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD Basics

Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. Next

The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late. President-Elect Donald

Employee stock options remain a potentially valuable asset for employees who receive them. Many Silicon Valley millionaires got rich (or semi-rich) from exercising stock options when they worked for start-up

Hiring household help, whether it’s a nanny, housekeeper, or gardener, can significantly ease the burden of childcare and daily chores. As a household employer, however, it’s critical to understand your

Business driving may come to mind when you think about tax deductions for vehicle-related expenses. However, businesses aren’t the only taxpayers that can deduct driving expenses on their returns. In

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective strategy to decrease potential estate taxes and show generosity to

Let’s say you consider your unincorporated sideline activity a business. Perhaps you offer photography services, create custom artwork, or sell handmade items online. Will the IRS agree that your venture

If you have a child or grandchild planning to attend college, you’ve probably heard of 529 plans, also known as qualified tuition programs. These plans, named for the Internal Revenue