Aug 8, 2019 | Firm Updates, Individual Tax, Tax Tips
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning at gambling Whether you win at the casino, a bingo hall, or elsewhere, you must report 100%...
Aug 5, 2019 | Firm Updates, Individual Tax
The summer weather may have you considering the purchase of a vacation home. Many people who own a vacation home choose to rent out the home when they are not there in order to recoup some of the costs, or even to make a profit. You might also benefit from being able...
Jul 30, 2019 | Firm Updates, Individual Tax
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And while the tax caused some families pain in the past, it has gotten...
Jul 23, 2019 | Firm Updates, Individual Tax
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a housekeeper, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have...
