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Have a Worthless Stock You Want to Write Off for 2016? Action May be Needed by Year-End If you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become worthless when the issuing company goes out of business.

Dodging Tax Penalties Most taxpayers do not intentionally incur tax penalties, but many who are penalized are simply not aware of the penalties or the impact they can have on their wallet. As tax season approaches, let's look at some of the more commonly encountered penalties and how they may be avoided.

Tax Benefits for Single Parents If you are a single parent dealing with the complicated tasks of working and raising a family, there are some tax benefits and issues you should be aware of.

Better to Sell or Trade a Business Vehicle? As the end of the year approaches, business owners may be thinking about replacing a business vehicle. Profits from the business may be up, so the timing may be right to acquire a new vehicle, or the current vehicle may finally be on its last legs. A question then comes up: Is it better to sell the…

Time to Start Thinking About Year-End Tax Moves With year-end just around the corner, it is time to think about those last-minute actions you can take to improve your tax situation for 2016. Year-end tax planning is probably something you will want to deal with before the holiday season crush arrives.

Year-End Investment Moves If you invest in publicly traded securities, here are a couple of tax-saving possibilities you shouldn't forget to consider before year-end.

Liberal Expensing Limits Can Create Major Year-End Tax Savings Businesses seeking to increase deductions by acquiring machinery and equipment before year-end have an impressive array of tools to work with:

Having a Low Taxable Income Year? Ways to Take Advantage of It Being unemployed, having had an accident that’s kept you from earning income, incurring a net operating loss (NOL) from a business, having an NOL carryover from a prior year, suffering a casualty loss or other incidents that result in abnormally low taxable income for the year can actually give rise...

Habits That Threaten Your Identity and Pocketbook They're just old habits. You likely to do them without even thinking. But these habits could be making you vulnerable to hacks, scams, ID theft and Internet phishing schemes out to separate you from your hard-earned money.

Higher Income Taxpayers Hit with Exemption & Itemized Deductions Phase-out Generally, in 2016 and 2017 taxpayers are allowed to deduct personal exemptions of $4,050 for themselves, their spouses and their dependents. In addition, taxpayers are allowed a standard deduction or, if their deductions are large, they can itemize their deductions.

Accounting 101: How to Read an Income Statement Your income statement is one of the most important documents your company produces. However, if you are the owner of a new business, or if you aren't familiar with this type of statement, preparing and interpreting it can be challenging. To read your income statement accurately, consult the informat...

Tips for Holiday Charity Giving The holiday season is the favorite time of the year for charities to solicit donations. It is also the time of year when scammers show up in force, pretending to be legitimate charities in hopes of swindling you. It is also a festive and very busy time of the year, and you may inadvertently overlook...