After filing, you may want to discard tax records. But don’t throw away documents you might need in the case of an IRS audit.
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Your Weekly Read
Can I itemize deductions on my tax return?
Not sure if you will itemize deductions in 2024? Here is how to know if you will itemize or take the standard deduction.
Can homeowners deduct seller-paid mortgage points?
When you buy a house, can you deduct seller-paid points on your tax return? Here are the rules.
Making the most of the home sale gain exclusion
Considering downsizing your home or moving? If so, be sure to check whether you’ll qualify for the tax-saving home sale gain exclusion.
Is your home office tax deductible? Here are the rules
While many people work from home, not everyone qualifies for home office deductions. Here are the rules for eligibility.
Understanding taxes on sales of real estate
The federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues.
Six tax issues to consider if you’re getting divorced
Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.
Tax tips when buying the assets of a business
When buying a business, you may not focus on taxes. But the way the transaction is structured can lead to better or worse tax results after the acquisition.
When do valuable gifts to charity require an appraisal?
If you donate valuable assets to charity and don’t follow certain requirements, the charitable tax deduction may be denied. Here are some answers to questions about how to protect your deductions.
Taxes when you sell an appreciated vacation home
If you own a vacation home, perhaps you’re ready to sell it. What are the tax implications? Here are the rules if you sell at a profit.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
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Washington, NC 27889
Washington, NC 27889
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