Are frequent flyer miles ever taxable?

Are frequent flyer miles ever taxable?

Aug 30, 2016 | Tax Tips

If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there are no tax implications involved. And you’re probably right—but there is a chance your miles could be...
Combining business and vacation travel: What can you deduct?

Combining business and vacation travel: What can you deduct?

Aug 17, 2016 | Tax Tips

If you go on a business trip within the United States and tack on some vacation days, you can deduct some of your expenses. But exactly what can you write off? Transportation expenses Transportation costs to and from the location of your business activity are 100%...
Three strategies for tax-smart giving

Three strategies for tax-smart giving

Aug 10, 2016 | Tax Tips

Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that for married...
Don’t roll the dice with your taxes if you gamble this year

Don’t roll the dice with your taxes if you gamble this year

Aug 3, 2016 | Tax Tips

For anyone who takes a spin at roulette, cries out “Bingo!” or engages in other wagering activities, it’s important to be familiar with the applicable tax rules. Otherwise, you could be putting yourself at risk for interest or penalties—or missing out on tax-saving...