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Taxes

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  • Charitable giving is often rewarded with federal income tax breaks. Recent legislation includes four temporary expansions of the breaks for individuals and businesses that donate to qualified charities through the end of 2021. Here’s an overview of these provisions, which Uncle Sam hopes will encourage you to make additional charitable contributions during the COVID-19 pandemic.

  • Before you sell your home or a vacation home, it’s important to review the basics of the federal income tax home-sale gain exclusion. If you qualify, the gain exclusion is one of the most valuable tax breaks on the books. Here’s an overview of how this break works.

  • Many employers have responded by rethinking the benefits they offer. There are ways to provide tax-advantaged health care programs to your employees, and at the same time, cut your overall costs

  • New York State has adopted an optional pass-through entity tax (PTET) for partnerships and S corporations. This type of tax has been enacted in other states as a response to the $10,000 state and local tax (SALT) itemized deduction limitation.

  • A recent study found that more than 59 million people engaged in online fantasy sports and gaming across the United States and Canada last year. If you play for money, you could owe taxes on your winnings. Here’s an overview of the evolving federal tax rules for these activities.

  • As investing in Bitcoin, Dogecoin and other cryptocurrencies becomes increasingly popular, investors need to understand the potential tax ramifications.

  • The IRS began issuing the Advance Child Tax Credit payments on July 15, 2021. The payments are 50 percent of the estimated amount of the Child Tax Credit you will qualify for on your 2021 tax return.  The payment is based on either your 2020…

  • Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive…

  • Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved in selling mutual fund…