Inheriting Stock or Other Assets? You’ll Receive a Favorable “Stepped-Up Basis”
If you’re planning your estate or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
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Whether it is tax legislation, financial reporting requirements, or accounting rules, changes happen every day. Santora CPA Group’s Alerts provide you with this time-sensitive information and any other issues that might impact you or your business.
If you’re planning your estate or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Thousands of people have lost millions of dollars and their personal information to tax scams, according to the IRS. The scams may …
If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying …
Don’t wait until the last minute to collect vital information for the 1099 filing deadline. While the deadline for 2023 isn’t until …
When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as …
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level …
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net …
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have …
In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver …
