Businesses with uncollectible receivables may qualify for a bad debt deduction, but strict IRS requirements apply. This article discusses which debts may be deductible, why the accounting method matters and the importance of documenting collection efforts before year end. A sidebar explains how debts with both business and personal motivations are treated for tax purposes.
As year end approaches, investors have an opportunity to reduce taxes through strategic portfolio decisions. This article outlines four year-end tax planning strategies: harvesting capital losses or gains, avoiding the wash sale rule, timing the sale of appreciated investments, and donating appreciated securities.
With year end approaching, eligible taxpayers should evaluate whether they're making the most of their Health Savings Accounts (HSAs). This article explains how maximizing HSA contributions can reduce 2026 taxes while helping build tax-advantaged retirement savings for the future.
This article highlights the importance of separating business and personal finances and offers practical bookkeeping steps to improve accuracy before tax season.