News & Insights

Inheriting Stock or Other Assets? You’ll Receive a Favorable “Stepped-up Basis”

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If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.   How do the rules work? Under the […]

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Starting a Business? How Expenses Will Be Treated on Your Tax Return

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Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business applications are still increasing slightly […]

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The Best Way to Survive an IRS Audit is to Prepare

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The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage […]

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Plan Sponsor Alert: Despite Growth, HSAs Largely Untapped for Retirement Savings

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Healthcare is a major cost in retirement, yet many people don’t plan effectively for it. Fidelity’s annual Retiree Health Care Cost Estimate showed that in 2022, an average retired couple […]

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Virtual Currency Lands in the IRS’s Crosshairs

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While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out […]

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