Individual Tax Articles
Tax Implications of Renting Your Vacation Property
Posted by Angela Miles on March 19, 2024
For tax purposes, the key factors are how many days you lease the property and the amount of income that you have to report for taxes, regardless of whether you rent to relatives or nonrelatives.
Maximizing Unused 529 Plan Funds: The 529-to-Roth IRA Transfer Option
Posted by Bradley Bach on February 27, 2024
Effective in January 2024, you can move funds that are not used in a 529 plan to a Roth IRA for the same beneficiary, with no tax or penalties.
Claiming Charitable Donations for 2023 Tax Year
Posted by Isabella Newman on January 30, 2024
If you donated to charity last year, you may be eligible for a tax deduction if you itemize deductions on your tax return. For donations of $250 or more, you need a written acknowledgment from the charity.
Tax Reasons to Refuse an Inheritance
Posted by D’Marie Kleeman on January 25, 2024
At first glance an inheritance may be considered a windfall, but the tax aspects should be considered before accepting.