Recent Articles
Avoiding the Mutual Fund Tax Bomb: Understanding Capital Gains Taxes
How to Navigate Tax Implications and Preserve Your Investment Returns Capital gains taxes are commonly associated with selling gainful investments, but what many investors ignore is the potential tax liability on investments that have reduced in value, even if they...
IRS Announces Stable Interest Rates for Q3 2023
Key Details and Implications for Taxpayers The IRS recently confirmed that it will keep the interest rates stable for the third quarter of 2023. This decision has effects on individuals and companies who owe taxes or are due refunds. In...
IRS Announces Increased Contribution Limits for Health Savings Accounts in 2024
Employees to Benefit from Higher HSA Limits for Next Year The IRS has recently released the inflation-adjusted amounts for health savings accounts (HSAs) for the year 2024. The notable outcome from the announcement is that employees will be able to...
IRS Supreme Court Ruling: Accessing Bank Records for Tax Collection Efforts
Understanding the Implications of the Polselli v. IRS Case and Practical Tips for Managing Tax Debt In a recent landmark ruling, the U.S. Supreme Court weighed in on the IRS’s power to access bank records without notice for tax collection...
Sports Betting Taxes: What You Need to Know About Reporting Your Winnings
Navigating the Tax Landscape for Sports Betting Enthusiasts Sports betting has gained significant popularity, but as the thrill of winning grows, so does the question of tax obligations. If you’re an avid sports better, it’s essential to understand the tax...
Maximizing Retirement Savings: The Power of Spousal Contributions to IRA’s
Harnessing the Benefits of Spousal Contributions for a Secure Retirement Planning for a secure and comfortable retirement is a shared goal for many couples. While individual retirement accounts (IRAs) are commonly used to save for retirement, did you know that...