Turning your hobby into a business can provide tax benefits if you do it right. But it can create a big tax headache if you do it wrong.
If you want certain individuals to receive property from your estate, there may be advantages to making those gifts while you are still alive.
Are you planning to use your vacation home soon? If you’re not going to use it, have you considered renting it?
The following is an overview of several recent tax proposals discussed or introduced in Congress over the past several weeks.
Be aware that important tax consequences are often associated with some fairly common events involving your home.
A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and CashApp.