Taxable vs. tax-advantaged: Where to hold investments When investing for retirement or other long-term goals, people usually prefer tax-advantaged accounts, such as IRAs, 401(k)s or 403(b)s. Certain assets are well suited to these accounts, but it may make more sense to hold other investments in taxable accounts. Know the rules
Did you repair your business property or improve it? Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and
The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses, including slashing corporate income tax rates, temporarily reducing individual rates, and it established a new 20% deduction for certain pass-through income. However, the TCJA also placed limits on several tax breaks, including the amount for
Many manufacturing companies fail to take advantage of the generous research and development (R&D) tax credit simply because they don’t have staff working in a lab. The Internal Revenue Service’s (IRS) definition of R&D is codified at Internal Revenue Code Section 41 and its related regulations — and it may
Capital Gains, Losses, and Sale of Home Are you trying to get your brain around how to figure out basis of property that you receive as a gift? Here's what you have to consider: The adjusted cost basis to the donor just before he or she made the gift
