There’s a favorable “stepped-up basis” if you inherit property
If you’ve inherited assets or you’re planning your estate, it’s crucial to understand the “step-up” basis rules. Continue Reading There’s a favorable “stepped-up basis” if you inherit property
Coordinating Sec. 179 tax deductions with bonus depreciation
/in Tax/by KKB CPAsThere’s more than one way for businesses to claim depreciation tax deductions. By combining them, you can get optimal tax-saving results. Continue Reading Coordinating Sec. 179 tax deductions with bonus depreciation
Beware of a stealth tax on Social Security benefits
/in Tax/by KKB CPAsMany retirees are surprised to find out that some of their Social Security benefits are hit with federal income tax. Will you be one of them? Here are the rules. Continue Reading Beware of a stealth tax on Social Security benefits
Maximize the QBI deduction before it’s gone
/in Tax/by KKB CPAsThe qualified business income (QBI) deduction is scheduled to disappear after 2025. Congress could extend it, but don’t count on it. Here’s what you need to know to make the most of it while you can. Continue Reading Maximize the QBI deduction before it’s gone