News

Articles

• 

  How do I figure capital gains on a house I bought twice, before and after divorce?

  Your gain will be based on 2 purchase prices. Here’s how to do the math.

  2 min read Dec 15, 2015
• 

  What’s the limit on cash gifts from a nonresident alien?

  You can each receive up to $100,000, but be sure to follow all the reporting rules.

  3 min read Nov 17, 2015
• 

  Credit report complaints abound

  The Consumer Financial Protection Bureau says credit report complaints to the agency increased 56% between June and July.

  1 min read Sep 02, 2015
• 

  How to figure taxes on pension from a Qualified Domestic Relations Order, or QDRO

  If you have a Qualified Domestic Relations Order, then you are treated as the plan participant.

  2 min read Jun 09, 2015
• 

  Robbed retirement fund to pay off house. Are there any tax loopholes to help us?

  Before paying off a mortgage with 401(k) funds, it’s smart to talk with a tax expert.

  3 min read May 28, 2015
• 

  Is in vitro fertilization cost deductible?

  If you itemize, you can claim IVF costs that exceed a certain percentage of your income.

  2 min read Jan 15, 2015
• 

  Stock splits and capital gains taxes

  First you need to figure out your adjusted cost basis after a stock split. Here’s how to do it.

  3 min read Dec 09, 2014
• 

  What if employer didn’t turn in payroll tax?

  If your employer didn’t pay the IRS, you can still claim withheld taxes. Here’s what to do.

  2 min read Dec 04, 2014
• 

  Cost basis for gift of subdivided property

  Your cost basis is not the land’s value on the date when the land was subdivided.

  2 min read Nov 20, 2014
• 

  Basis for depreciation on rental property

  Here’s how to figure the basis for depreciation of the home you are converting to a rental.

  2 min read Nov 18, 2014
• 

  Pay capital gains tax rate with 401(k)?

  While the capital gains tax rate doesn’t apply, tax-deferred growth can work wonders.

  2 min read Aug 14, 2014
• 

  Estate sale: Taxes on selling Mom’s things

  Your tax basis on her stuff is the market value on the date of death. Here’s how it works.

  2 min read Aug 07, 2014
• 

  Reporting interest from foreign financial assets

  The forms are similar, but each has different requirements for filing them.

  3 min read Jul 17, 2014
• 

  Capital gains tax on second home sale

  You may not have to pay tax on the capital gain of a second home if you pass certain tests.

  2 min read Jun 24, 2014
• 

  Deduct mortgage interest on a 2nd home?

  The interest on the home you bought for your in-laws may be deductible in these cases.

  2 min read Jun 17, 2014
• 

  Do I have to report cash gift from foreign relatives?

  You have to add up all the money from foreign relatives to see if you must report it.

  2 min read Jun 12, 2014
• 

  Capital gains on home sale due to job change

  If you have to sell within two years, you may still qualify for a reduced exclusion.

  2 min read Apr 17, 2014
• 

  Is payment for a right of way taxable?

  The payment will affect your property’s basis, so the first step is to calculate its basis.

  2 min read Apr 01, 2014
• 

  Deduct mortgage interest on three houses?

  You can deduct mortgage interest on two homes. But if you rent the third, you have an option.

  2 min read Mar 06, 2014
• 

  Use severance pay to fund my 401(k) plan?

  There’s a way to use severance money to fund a 401(k) at your startup business.

  2 min read Feb 27, 2014