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If your college-age child is or will be receiving financial aid, congratulations. Now, you’ll probably want to know if the financial aid is taxable. Keep in mind that the economic characteristics of financial aid, rather than how it is titled, will determine its taxability....

If you’ve done some gambling, you may need to know about the applicable federal income tax rules. They can be summarized as follows. You must report 100% of your wagering winnings as taxable income on your Form 1040. The value of complimentary goodies (“comps”) provided by...

The rules for required minimum distributions (RMDs) can be bewildering, frustrating and potentially expensive to retirement savers and their beneficiaries. And taking — or not taking — RMDs can have a substantial impact on your tax liability. Distributions generally will be...

On July 31, President Obama signed a law that provides a three-month extension of the Highway Trust Fund (HTF). The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 came just in the nick of time — the HTF was set to expire on the same day. The...

Most valuators attach statements of limiting conditions to the end of their written reports. Similar to financial statement footnotes required under Generally Accepted Accounting Principles, these appendices are worth reading, especially when you’re reviewing the opposi...

It’s never too early to start thinking about a succession plan. Whether retirement is years away or just around the corner, you want to protect the value of your business by ensuring that any leadership transition will be smooth. Begin exploring the process by considering the...

Money spent now on an addition or bathroom remodel is sure to be recouped when you sell your home, right? Unfortunately, no. The truth is that very few homeowners completely recover the costs of their renovation projects. For 2015, the average cost-to-resale-value ratio for...

The 2015 Duke University CMO Survey reports that companies spend roughly 10% of their marketing budgets on social media outlets. Although that amount is expected to more than double by 2020, most marketing professionals surveyed were unable to quantify the return on their social...

By distributing profits in the form of dividends rather than salary, an S corporation and its owners can avoid payroll taxes on these amounts. Because of the additional 0.9% Medicare tax on wages in excess of $200,000 ($250,000 for joint filers and $125,000 for married filing...

As the U.S. economy strengthens, don’t be surprised if your best salespeople ask for a raise — and if they don’t receive it, leave for greener pastures. To keep good people, you not only need to offer a compensation plan that acknowledges job market competition but also motivates...