Month: December 2017

Should you hire your spouse?

Maybe your spouse helps out at your small corporation without pay. Although wages are taxable and fringe benefits cost your company, you could be missing out on tax-saving opportunities for hiring your spouse. Consider the following: You’re saving money in…

Lending money to a relative? Avoid a tax trap

Suppose a relative wants to borrow money for a business venture or to buy a home. It’s true that family loans can raise problems. But if you’re going to do it, take the tax law into account. Otherwise, you could…

5 tax-saving stocking stuffers

As the year-end holidays approach, add some tax cheer for 2017. In fact, you can still make timely tax moves as late as the last week of the year. Consider these five tax-saving stocking stuffers. 1. Charitable donations.┬áBolster your deduction…

Big changes for itemized deductions?

Tax reform talk is heating up again as legislators discuss the proposed tax code overhaul. One of the key proposals would repeal most itemized deductions currently on the books. Although enactment is hardly guaranteed, taxpayers should be aware of the…