With so many people working remotely these days, it’s become common to think about moving to another state – perhaps for better weather or to be closer to family. Many retirees also look at an across-the-border move to better control living expenses. If you’ve found yourself harboring such notions, be sure to consider taxes before [...]
Did you resolve to pay bills on time in 2021? Here’s how QuickBooks can help. Managing your paper bills manually is a dangerous practice. It’s too easy to lose them, for one thing, and it’s impossible to keep all of those vendors and amounts in your head. Even if you keep them in a safe [...]
Many people have found themselves working from home during the COVID-19 pandemic. If you’re one of them, you might wonder, “Can I claim the home office deduction on my 2020 tax return?” The short answer is: Only if you’re self-employed. Employees can no longer claim home office expenses, and even self-employed taxpayers must follow strict [...]
If you’re a parent, or soon will be, you’re no doubt aware of how expensive it is to pay for food, clothes, activities and education. Fortunately, the federal child tax credit is available to help many taxpayers with children under the age of 17, and there’s a dependent credit for those who are eligible with [...]
It’s been more than two years since the U.S. Supreme Court ruled in South Dakota v. Wayfair that states may require out-of-state sellers to collect sales and use tax even if they lack a physical presence in a state. Since that time, most states that have a sales tax have enacted “economic nexus” laws that [...]
As we approach the end of 2020, now is a good time to review any mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. AVOID SURPRISES Unlike with stocks, you can’t avoid capital gains on mutual funds simply by holding on to the shares. Near [...]