Tax Fraud and the Equifax Fiasco

Last year, it was publicly revealed that one of the major consumer credit reporting agencies, Equifax, had been hacked. As a result of this, the personal information of more than 145 million Americans was stolen, presumably for sale to identity thieves and other criminals. This was a terrible, major breach and is expected to result  … Read more

Tax Implications of Rental Property

Rental property can be a sound investment as it can bring in a consistent, predictable flow of income. Unfortunately, it can also make taxpayers targets of IRS scrutiny. In 2008, the Government Accounting Office estimated that over half of tax filers who own rental property misreported their income and losses on their tax returns. The  … Read more

Understanding Capital Gains and Losses

What is a Capital Asset? The IRS considers capital assets to encompass almost all of the property you own for personal use or as an investment. This includes stocks, securities, houses, cars, and jewelry. However, under the tax code, Section 1221, capital assets exclude the following property: Stock or property in a taxpayer’s trade that  … Read more

The Taxpayer Bill of Rights

  For many, paying taxes can seem tedious, confusing, and unfair. This is especially salient when you see your reduced paycheck a, big tax bill, or read about how the government lost track of tens of billions of dollars in cash in Afghanistan. In addition, there are many people who are dissatisfied with the IRS  … Read more

Tax Rules Benefitting Veterans

  Our active and veteran military members honor our Country with their service. Unfortunately, this service is often without reward. Many veterans struggle following their service, with mental health and physical challenges, as well as problems establishing a career. To honor military service and to help alleviate their financial burdens, the IRS and states offer  … Read more

The Adoption Tax Credit

  Expanding your family through adoption can be an incredibly exciting and fulfilling experience. People simply want to expand their families and experience the joy of parenting. Further, there are many children in the world waiting for the opportunity of a permanent, loving family. In fact, it is estimated that 135,000 children are adopted every  … Read more

The IRS and the Affordable Care Act

  Since it was signed into law in 2010, the Affordable Care Act, also known as the ACA, also known as “Obamacare”, has been a lightning rod of controversy. Half of the country loves it, while the other half seem to believe it is the worst piece of legislation created in generations. Regardless of which  … Read more

Benefiting from a Roth IRA

Planning for retirement can give anyone a headache. There is no one-size-fits-all retirement investment vehicle, and there are so many options that the media is telling you put your money into. Many people throw their hands up and entirely rely on the retirement account provided by their employers. Before you do this, I would encourage  … Read more

What is a Death Tax?

We work hard to provide for our families. We sacrifice, we save, and we make financial decisions with the future in mind. Ultimately, it is all done to provide a good life for your family during your lifetime and beyond. That is why many people who have accumulated great wealth in their lifetime resent that  … Read more