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If you're thinking about selling your business, you'll need to consider the buyer's perspective to help close the deal. Taxes are an important issue in negotiating the terms of the deal, and the buyer's tax objectives may conflict with yours. Here's an overview of the due diligence considerations from both parties' perspectives.

Home ownership can be a financially rewarding investment, especially when you factor in the potential tax savings opportunities. This article summarizes various federal tax breaks that sweeten the deal for homeowners today, including the home sale gain exclusion, itemized deductions for mortgage interest and property taxes, credits for certain "green" home improvements and more.

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In the current economic environment, many rental property owners are incurring losses. But they may not to be able to currently deduct them. Here's an overview of information that property owners should know about: deductions for operating costs and depreciation, the passive activity loss rules, the excess business loss rule and net operating losses, as well as details about properties generating taxable income.

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you file your tax return for 2021 and plan for 2022. […]

For firm Hall, Kistler & Company in Canton, a successful approach to the hybrid working model meant focusing first on staff needs.

Tax Season Filing Tips Did you know that tax return errors can delay refunds and increase audit risk? Before your tax return preparation appointment, make sure you've gathered all 2021 tax documents received, such as W-2s and 1099s. In addition, […]

If you're in the market to buy a business, how the deal is structured can have a major impact on the due diligence that's needed to protect against known and unknown liabilities. Purchasing the assets in bulk may help reduce exposure to liabilities, but there may be tax and financial reasons to purchase an ownership interest in the target business instead. Here's an overview of possible due diligence procedures to consider

Many people have incurred student loan debts. But some are fortunate enough to have their loans discharged or paid off by employers. If you're one of the lucky ones, be aware that cancellation of student loan debt will result in taxable income, unless an exception applies. Here's an overview of the federal income tax rules that apply in these situations

The past few years has seen a general “skills gap” in the manufacturing sector. One answer to this ever-increasing issue is to take steps to “upskill” your workforce.

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but they […]

The alternative minimum tax (AMT) rules are confusing for many people. Although the corporate AMT was permanently eliminated by the Tax Cuts and Jobs Act, some individuals may still owe the AMT. Are you at risk for this dreaded tax? Here's a refresher on the AMT rules that apply to individual taxpayers for 2018 through 2025.