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Step-ups are powerful, and I believe they should be more widely understood. To that end, the following paragraphs attempt to explain this topic for those of us who are not […]

A carried interest is ownership in future partnership profits, usually granted in return for services. The terms profits interest and promote are commonly used interchangeably to refer to the same […]

Recent changes to the depreciation rules provide potential tax benefits to real estate professionals. Recently enacted legislation fixed the mistake made by Congress, known as the ‘retail glitch’. This change, […]

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. […]

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a […]

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you […]

Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears, […]

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals […]

Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put […]