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Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if you hold such funds in taxable accounts, or are considering such investments, beware of these three tax hazards:...

Love and marriage — according to the song, they go together like a horse and carriage. But matrimony can leave some couples singing a sad tune when they encounter the ominously named “marriage penalty.” However, for other couples, marriage brings tax-saving opportunities. In a...

For family business owners, estate planning can be a challenge. Often, most if not all of their wealth is tied up in their companies, which creates a conflict between the desire to transfer ownership to the next generation and the desire to stay in control. One potential solution...

Non-compete agreements have long been a staple of executive employment contracts. Today, however, they’re becoming increasingly common even in lower-level jobs. According to the Wall Street Journal, a steady rise in litigation over non-competes “largely reflects the...

Courts generally give employers significant latitude in establishing dress code policies. The key is to not implement a policy that would have a disparate impact on “protected class” employees — that is, based on race, gender, religion, age, national origin or...

Many families hire people to work in their homes, such as nannies, housekeepers, cooks, gardeners and health care workers. If you employ a domestic worker, make sure you know the tax rules. Important distinction Not everyone who works at your home is considered a household...

Many companies risk danger in overly relying on a few customers that might abuse their credit to the point where the company’s cash flow is dramatically impacted. To guard against this, every business should assess customers’ creditworthiness before getting too deeply involved....

Vacation properties are subject to different federal income tax rules depending on how much personal and rental use they have during the year. Now is a good time to plan how to use your vacation property for the rest of this year with tax savings in mind. Tax Rules for Vacation...

The Internal Revenue Code allows some worthwhile tax breaks for transportation-related employee fringe benefits. They’re intended to persuade you to give up your gas-guzzling vehicle when commuting to work and instead “go green.” If your employer offers these...

With health care costs continuing to climb, tax-friendly ways to pay for these expenses are more attractive than ever. Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and Health Reimbursement Accounts (HRAs) all provide opportunities for tax-advantaged funding...