Family forests provide many valuable goods and services that extend beyond their boundaries, including clean air and water, wildlife habitat, and carbon sequestration.  Although owners of forested land usually don’t get paid directly for those benefits, there are tax incentives that can be associated with management activities. Landowners often do not know that reforestation, timber […]

Qualified Opportunity Funds (QOF) are corporations or partnerships that hold at least 90% of their assets in IRS designated qualified opportunity zones (QOZ) with the goal of rebuilding low-income communities. Qualified Opportunity Funds, used as an alternative to a direct investment in a qualified opportunity zone property, offer an opportunity for individual investors to defer

Like millions of other Americans, you may be working from home. (Data show that the number of people working from home nearly tripled over the past few years). That may make you wonder whether you can claim a home office tax deduction on your federal income tax return. After all, you likely have some unreimbursed

Advance Child Tax Credit (CTC) A word of caution to all married parents filing a joint return for tax year 2021 who received advance Child Tax Credit (CTC) payments in 2021: you must combine the total amounts shown in box 1 of both IRS Letters 6419 when you file your federal income tax return this

Happy official tax season! This file photo shows part of a 1040 federal tax form printed from the Internal Revenue Service website. (AP Photo/Keith Srakocic)  The Internal Revenue Service says it’s here to serve, and issued a plea for understanding on the first day of the 2021 filing season: “We are real people serving real

Happy official tax season! This file photo shows part of a 1040 federal tax form printed from the Internal Revenue Service website. (AP Photo/Keith Srakocic) The Internal Revenue Service says it’s here to serve, and issued a plea for understanding on the first day of the 2021 filing season: “We are real people serving real

Tim Speiss, EisnerAmper Partner & CPA, joins Yahoo Finance Live to discuss what to be aware of when filing 2021 taxes, the child tax credit, the gift tax exemption, and expected IRS backlogs. Video Transcript – All right. Let’s switch gears and talk a little tax time. Because it seems to have snuck up on

Verify the Tax Preparer’s Credentials There are a lot of people out there claiming to be a “tax professional.” However, just because someone advertises tax preparation services, it doesn’t mean that they have the skill, education, and expertise to properly prepare your tax return. So, to increase the odds of finding a qualified tax preparer,

Many words could be used to describe the outlook for the 2022 tax season, ranging from milquetoast terms, like challenging or problematic, all the way to more honest forecasts, such as one horrific tax headache on the horizon.  The Internal Revenue Service will begin accepting and processing federal income tax returns on Jan. 24. Theoretically, the earlier