Andrew G. Klapac

Business Owners: Expiration Date Is Approaching for Certain TCJA Provisions

The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect small business taxpayers and their owners. Some of these provisions are scheduled to expire in the near future, unless they're extended or made permanent by Congress. Here's an overview of five key provisions that may soon come to an end and the tax implications if they're allowed to expire.

Seniors: You Might Not Want to Sell that Highly Appreciated Home

In recent years, the residential real estate markets in many areas have surged. That means there...

Computing Tax Basis Counts when Selling a Highly Appreciated Home

Residential real estate prices in many markets have surged over the last few years. As a homeowner,...

Set up a Tax-Favored ABLE Account for a Family Member with a Disability

Today, most states offer programs that allow you to establish a tax-favored account to cover the...

Smart Tax Planning Pays Off

If you're financially successful or expect to become so, taxes are or will become one of your...

Updated Guidance on Business Vehicle Depreciation

The rules for deducting depreciation expenses on vehicles used for business purposes have been...

FAQs on the General Business Credit

The general business credit (GBC) may help certain small businesses cut their federal income tax...

Do You Qualify for the Favorable HOH Status?

The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might...

Does the Marriage Penalty Still Exist Today?

A couple's tax situation changes when they get married—for better or worse. Here are the most...

How Employer-Issued incentive stock options May Affect Your Taxes

Employer stock options are a potentially valuable asset for recipient employees, especially those...