Articles From Lumsden McCormick
Posted by Amanda Wojtkowski on September 22, 2021
If you’re an employee, you may be able to get a Health Savings Account with your employer. You can also open one of these tax-saving accounts through some banks and other financial institutions. Here are the basic rules.
Posted by Michael Grimaldi on September 22, 2021
Does your business interact with your friends, relatives, and subsidiaries? If so, you may need to disclose the details of those transactions and relationships in your financial statements. Here’s why and how auditors pay special attention to related parties.
Posted by Kristin Re’ on September 17, 2021
Before December 31, you may want to make some tax moves to save on 2021 taxes. Here are a few strategies.
Posted by Michē Needham on September 17, 2021
If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.
Posted by Cheryl A. Jankowski on September 10, 2021
There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year-end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.
Posted by Christopher Lukowski on September 10, 2021
If your business is victimized by theft, embezzlement, or internal fraud, you may be able to claim a tax deduction for the loss. But there are requirements that must be followed as one U.S. Tax Court decision illustrates.