How Marriage and the Joint Return Can Affect Your Tax Liability
Individual

Does the Tax Code Reward or Penalize Marriage? The story is as old as time.  First comes love then comes marriage.  And quick as a rabbit after that:  the joint tax return.  Ah, sweet bliss, married only a few weeks or…

Continue Reading
Selling Your Home – Two Tax Traps for the Unwary
Individual

For Some That Big, Tax-free Gain May Not Be There After All When I was a boy my dad bought the family home with his Korean War veteran’s benefit and the savings he’d accumulated working lots of long hours.  I don’t…

Continue Reading
Defenses to Joint Tax Liability – The Innocent Spouse
Individual

Signing a Joint Return Makes You Liable For the Entire Amount of Tax Due A teacher of mine, oh so long ago now, collected some science fiction short stories into a book he called Some Dreams are Nightmares.  For a few…

Continue Reading
Taxing Capital Gains and Losses
Individual

What Are They and How Are They Taxed? You invest your money, you take the risk, and if it works out the taxman takes a piece of your gain.  Such is the way of things.  Gains come in kinds and if…

Continue Reading
Converting Your Home to Rental Property
Individual

Taxing Your Home as Rental Property – Gains, Losses, and the Eventual Sale Lots of folks buy homes with a plan.  They live in them for a time, building equity, using their skills to improve them, and after a few…

Continue Reading