Planning for Social Security benefits is an important task for those nearing retirement. Learn about Social Security, how to maximize your benefit and how benefits are taxed.
Tax-loss harvesting is a strategy that enables a taxpayer to reduce taxes by using losses to offset gains or income. While taxpayers often wait until the end of the year to assess gains and losses, the opportunity for tax-loss harvesting can happen at any time throughout the year.
The Inflation Reduction Act includes the Clean Vehicle Tax Credit program which provides tax credits for purchasing electric vehicles. Learn about the tax credits and limits on qualifications.
Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
The Inflation Reduction Act of 2022 imposed a new 15% alternative minimum tax on large corporations. Notably, the tax is based on a corporation’s financial statement income (with adjustments).
The challenges of inflation can be difficult for nonprofits to overcome. But there are steps that nonprofits can take to limit inflation’s negative impact.