Defer Taxes with Installment Sales

Selling a property one has owned for a long period of time will frequently result in a large capital gain, and reporting all the gain in one year will generally expose the gain to higher-than-normal capital gains rates and subject the gain to the 3.8% surtax on net...

Tax Changes Coming After 2025

By now, you have probably gotten used to the provisions in the Tax Cuts and Jobs Act (TCJA) that became effective January 1, 2018. But don’t forget most of the tax changes made by the TCJA are not permanent and will expire (sunset) after 2025. This will have an impact...

When Can You Dump Old Tax Records?

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends on the circumstances! In many cases, the federal statute of limitations can be used to help you determine how long to keep...

How Employee Stock Options Are Taxed

Many companies, as an incentive to employees to help grow the companies’ market value, will offer stock options to key employees. The options give the employee the right to buy up to a specified number of shares of the company’s stock at a future date at a specific...