Turning Your Hobby Into a Business

Turn Your Hobby Into a Business

Turning your hobby into a business can provide tax benefits if you do it right. But it can create a big tax headache if you do it wrong.

Cut Taxes with Lifetime Giving

retired aged couple

If you want certain individuals to receive property from your estate, there may be advantages to making those gifts while you are still alive.

Proposed Tax Legislation

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The following is an overview of several recent tax proposals discussed or introduced in Congress over the past several weeks.

A Tax Nightmare on Your Horizon

scared lady

A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and CashApp.

Tax-Free Rental Income

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There are a few income-producing events that the IRS has said are not taxable. One of them is renting out your home or vacation property.