Tax Planning

Midyear tax planning: Review opportunities to save taxes this year (or next)

Planning opportunities often become more limited as the end of the year approaches. Reviewing your tax picture midyear gives you more time to take steps to reduce or defer taxes.
July 7, 2026
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Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Let’s take a look at a few areas that commonly provide tax-saving opportunities. Your tax bracket The legislation commonly known as the One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4, […]
#MidYearTaxPlanning, #PersonalFinance, #TaxPlanning
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Tax Planning

When the sale of an appreciated home triggers taxes — and when it doesn’t

Selling your home this summer? The sale could be tax-free, or it could create a sizable tax liability. Or it might result in a tax bill between those extremes. Learn more.
June 23, 2026
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Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in the home, and your income […]
#CapitalGainsTax, #HomeSaleTax, #RealEstatePlanning
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Tax Planning

Don’t overlook these tax issues after a job loss

A job loss can create tax consequences that aren’t always obvious. Reviewing your options before making decisions about severance, health coverage and retirement accounts may help you avoid unnecessary taxes and penalties.
June 16, 2026
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Even with a relatively low unemployment rate (averaging around 4.4% over the past year), layoffs and terminations continue to affect workers across many industries. If you’ve recently lost your job, you’re likely focused on replacing income and evaluating your next steps. But some tax implications related to a job loss also may require attention. Here […]
#FinancialWellness, #JobLossPlanning, #TaxPlanning
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Tax Planning

The “kiddie tax” can apply long after childhood

The “kiddie tax” can increase a family’s overall tax liability if investment income is generated in a child’s name — even if the child is a young adult. But you may be able to minimize its impact.
June 9, 2026
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Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s unearned income may be taxed at the parent’s higher tax rate. The purpose of […]
#FamilyWealthPlanning, #KiddieTax, #TaxPlanning
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Tax Planning

Self-employed? Don’t overlook valuable tax deductions

Self-employed individuals often miss legitimate tax savings. Don’t let this happen to you. Learn the basics of claiming business expense deductions, including those for your home office, meals, vehicle and more.
June 8, 2026
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If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent contractors, and five examples of expense deductions that are commonly overlooked or misunderstood. Filing basics Sole proprietors and independent contractors must report their business activity […]
#SelfEmployed, #SmallBusinessTaxes, #TaxDeductions
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Tax Planning

Beware of potential tax issues when selling self-created intangibles

Not all intangible assets are created equal in the eyes of the IRS. Learn the federal income tax treatment for capital vs. noncapital self-created intangibles — and why the distinction matters to small business owners.
June 1, 2026
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Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or intellectual property is licensed or transferred. Generally, intangibles qualify as capital assets that generate capital […]
#BusinessValuation, #IntangibleAssets, #TaxPlanning
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