We have a small business and my husband, a licensed contractor, made significantly more money in the last few months of the year than expected, resulting in a higher tax liability. We are looking for ways to decrease our taxable income by the April deadline, such as contributing to an HSA, SEP, or utilizing Section 179 for a new truck purchase. What general advice can you provide?

September 7th, 2024

Can I claim legal expenses due to a court case, interest fees, and any other bank fees/transactions on my joint tax return as a W2 and A-Corp business owner?

July 30th, 2024

A friend has left us a house in her will. One of the documents is a revocable deed transfer which specifically states that no excise taxes will be due. When we sell the house, will we owe the IRS any capital gains tax?

August 13th, 2023

I have submitted my federal tax return. I received a $600 check in October 2022 from my previous employer for retro pay, which I believe is for 2021 or before. I retired on 9/30/21 and have not worked since. I received a W2 for this in 2022. Do I need to file an amended return?

July 19th, 2023

I want to buy an investment property in NH (currently living in MA). Dave Ramsey’s calculator says I qualify for a home that is max $98,000. Should I buy a home at this price, fix it, and then move into it later? It will cost $850 a month.

September 10th, 2024