State Taxes Impact Business Sales, Too
For various reasons, business owners sometimes decide to put their companies on the market. To successfully negotiate the sale of a business, it’s critical to understand the tax implications. Armed with this knowledge, you can assess the impact of various transaction...
Don’t Get Blown Away by a Windfall
Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get blown away by a windfall and end up in worse financial shape. Risky Conditions Perhaps the most obvious example is you may be tempted to immediately buy an...
M&A Transactions: Be Careful When Reporting to the IRS
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in M&A history, with the United States...
The Deductibility of Medical Expenses
Individual taxpayers may be able to claim medical expense deductions on their tax returns. However, the rules can be challenging, and it can be difficult to qualify. Here are five points to keep in mind: 1. You must itemize to claim the deduction and have quite a few...