Tax and Other Considerations for Home Loans to Children
Question: My spouse and I recently loaned our daughter and her husband the full amount needed to purchase a home. None of this was documented. Is there anything we should be doing?
Year-End Planning with Tax Law Changes on Horizon
Question: With the 2020 calendar year coming to a close, can you provide some suggestions for tax planning moves to make before year-end?
Home Office Deductions During Covid
Question: I have been working from home since the onset of Covid in March of 2020. Am I entitled to an income tax deduction for the business use of my home office?
Deferring Payroll Taxes on Earned Income
Question: I own and operate a small business. Is it true that the new tax law enables me to defer all of the payroll taxes incurred on the wages I pay to my employees?
Repaying 2020 Required Minimum Distributions
Question: I took my required distribution from my IRA early in 2020. Now that the new tax law suspended the required distribution rules for 2020, is it too late for me to undo what I did?
Converting a Traditional IRA to a Roth IRA
Question: With the past and perhaps an impending further drop in the stock market, does it now make sense to convert my traditional IRA to a Roth IRA?
Accessing Retirement Plan Funds Under the CARES Act
Question: My wife lost her job as a result of her company downsizing during the pandemic
and our family is now down to one income. Is there an effective way to tap our retirement accounts for the shortage of funds we now have without undue tax cost?
Navigating the Wash Sale Rules
Question: With the recent stock market decline, does it make sense for me to sell stocks that have decreased in value to create losses for tax purposes and then buy back the same positions?
Planning Ahead with New Restrictions on Inherited IRAs
Question: Any suggestions on how to deal with the new rules on accelerated distributions for inherited IRAs?
Tax Planning with Stock Issued to Employees
Question: I recently accepted a job with a startup company and was given shares of company stock at no cost to me in which I will vest over a period of years. Do I have to pay tax on the shares I receive?