Taxes

Refresher on the Home-Sale Gain Exclusion Tax Break

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.

Save Taxes While Controlling Employee Health Costs

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

Optional Pass-through Entity Tax (PTET) for Partnerships and S Corporations

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.

Learn the Tax Score for Fantasy Sports

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.

Curtailing tax surprises with cryptocurrency

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

Advance Child Tax Credit Payments Are Starting

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…

Still have questions after you file your tax return?

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…

The tax aspects of selling mutual fund shares

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…