A section of the federal Internal Revenue Code authorizes estate tax deductions for qualifying interests in family owned businesses. For the deduction to apply, the value of the interest in the business held by a person at the time of … Continue reading →

Hitting the jackpot while gambling may feel a lot more like manna from heaven than remuneration for a good day’s work, but as far as the government is concerned, those winnings might as well be wages as the results of … Continue reading →

At the eleventh hour, Congress averted the tax side of the ominous “Fiscal Cliff” that it faced as 2012 drew to a close. The end result of the intense negotiations was the American Taxpayer Relief Act of 2012 (ATRA). The … Continue reading →

Even if you’re a taxpayer with simple returns and few supporting documents, you can become a little snowed under by tax records as they accumulate over the years, raising the question of how long you should hold on to such … Continue reading →