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Selling a home: Will you owe tax on the profit?


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.

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Tax breaks to consider during National Small Business Week


Before Dec. 31, you may want to make some tax moves to save on 2021 taxes. Here are a few strategies.

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Planning for year-end gifts with the gift tax annual exclusion


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.

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You can only claim a casualty loss tax deduction in certain situations


The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).

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Want to find out what IRS auditors know about your business industry?


If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.

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Does your employer provide life insurance? Here are the tax consequences


Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.

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Getting a divorce? Be aware of tax implications if you own a business


Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.

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ABLE accounts may help disabled or blind family members


Do you have a disabled family member that you’d like to help out financially but you don’t want them to lose eligibility for their government benefits? You may be able to use a tax-advantaged ABLE account.

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Possible tax consequences of guaranteeing a loan to your corporation


If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implications.

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Scholarships are usually tax free but they may result in taxable income


If your child receives a scholarship, is the amount taxable income? Here are the rules.

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