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Articles

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  Deducting investment interest expense

  Your mortgage interest can offset investment income from dividends, interest and capital gains.

  2 min read Jan 12, 2012
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  Taxable fringe benefits from the employer

  If an employee doesn’t pay premiums for disability insurance, are benefits taxable?

  2 min read Nov 17, 2011
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  How to pay taxes on a Roth IRA conversion

  After losing a job, a tax bill for your IRA conversion is the last thing you need.

  3 min read Jul 28, 2011
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  Ordinary loss: extraordinary tax deduction

  If inherited property loses value, your tax strategy depends on how the IRS will categorize your loss.

  3 min read Jul 12, 2011
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  Deducting taxes on unimproved land

  You can elect to capitalize some expenses if you can’t benefit from a tax deduction.

  2 min read Jun 02, 2011
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  Pay off mortgage with IRA funds?

  Although you’re more than 59½ years old, you still have to pay income tax on the withdrawal.

  1 min read May 12, 2011
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  ‘American Idol’: One contestant’s story

  The road to "American Idol" can lead to stardom, but it will still cost you.

  3 min read May 06, 2011
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  Claiming 25-year-old son as dependent

  You should amend your tax return, as he earned too much money to be claimed as a qualifying relative.

  1 min read May 05, 2011
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  Capital gains treatment of warrants

  With warrants, your holding period starts the day you exercise your right to acquire the stock.

  1 min read Mar 08, 2011
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  Is 19-year-old still a dependent?

  You can claim two types of qualifying dependents on your return, if they meet IRS rules.

  2 min read Jan 27, 2011
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  Capital gain exclusion applies to foreign home

  U.S. citizens living abroad pay tax on income and gains, though foreign home gain may be excluded.

  2 min read Dec 07, 2010
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  Owe the IRS taxes from years ago

  The IRS has 10 years from the date the tax is assessed to collect any unpaid balance.

  2 min read Aug 26, 2010
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  How an S corporation officer gets paid

  Adequate compensation for services rendered to an S corporation is a hot-button issue with the IRS.

  2 min read Jul 01, 2010
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  Going into business with a foreign partner

  To avoid adverse tax consequences, the owners of the LLC interest should be corporations.

  2 min read Jun 15, 2010
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  Who pays the taxes on an UGMA?

  One way to transfer assets to grandchildren is with an UGMA. But the annual income is taxable.

  2 min read Mar 16, 2010
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  Is elder abuse settlement taxable?

  Whether a settlement is taxed or not depends on the nature of the claim, not the lawsuit.

  1 min read Feb 09, 2010
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  Writing off a tax loss on a franchise

  Before determining the amount of tax loss on a franchise, make sure to amortize.

  2 min read Jan 21, 2010
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  Uncle Sam wants slice of prize winnings

  A woman who won a trip to Bora Bora will have to share her bounty with the U.S. government.

  1 min read Oct 30, 2009
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  Is IRA taxed for elder care?

  You can minimize taxes paid on an IRA if you use the money to pay for a nursing home.

  2 min read Sep 29, 2009
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  Selling property in a foreign country

  When you become a U.S. resident, the IRS wants a portion of all your worldwide income.

  2 min read Aug 11, 2009