Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
Tips and Articles on Tax Advisory
Selling your home and moving to a new one is an enormous undertaking. While you’re excited about your new home, there are many tasks to be completed. But what about the tax issues? Do you have to pay tax on any gain on the sale? Can you deduct a … [Read more...] about Selling Your Home
Understanding Tax Implications Going through a divorce or marital separation is a challenging time, emotionally and financially. However, it's crucial to consider the potential tax consequences that can arise during this process. Here, we'll delve … [Read more...] about Navigating Divorce
Rules for deducting interest on home equity debt Homeowners can deduct interest paid on home equity loans or home equity lines of credit if they use the loan proceeds for making home improvements. However, if the home equity loan is used to pay … [Read more...] about Making Home Improvements
Things you need to know when changing your name or address People change their names for any number of reasons. You might be taking your spouse’s surname after getting married, or you might be going back to your maiden name after getting divorced. … [Read more...] about Getting Married or Divorced
One way to transfer wealth to the next generation is to make gifts. Generally, donors pay gift tax unless they fit into an exception. The most frequently used exception is the annual exclusion. Taxpayers may give up to the annual exclusion of … [Read more...] about Gift Planning
The Achieving a Better Life Experience (ABLE) Act of 2014 allows states to create tax-advantaged savings programs for eligible people with disabilities (designated beneficiaries). The beneficiary must be blind or disabled by age 26 to establish an … [Read more...] about Tax Benefits for the Disabled
