Are frequent flyer miles ever taxable? Generally not if they’re awarded for flying with an airline or using a credit or debit card, because they’re considered a nontaxable rebate. But sometimes the IRS views miles as taxable. It might do so when...
Read moreSeptember 2016 Newsletter
IRS change may now help business to deduct hundreds of thousands of dollars. Read on to learn more, plus more tax news in our September Newsletter. September 2016 Newsletter
Read moreCould A Tax-Free Exchange Help Cover LTC Insurance Costs?
No estate plan is complete without considering long-term care (LTC) expenses and how to pay for them. A partial tax-free exchange of an existing life insurance policy can provide a funding source for LTC insurance coverage. Ordinarily, if the...
Read moreDocumentation is the Key to Business Expense Deductions
Documentation is the key to business expense deductions If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions. Record details about expenses as soon as possible after...
Read moreGetting started on your estate plan: Inventory and value assets; estimate tax liability
Getting started on your estate plan: Inventory and value assets; estimate tax liability Could your estate be subject to the 45% federal estate tax? To find out, the first step is to determine what your estate is worth. Then subtract any assets...
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