Research and development (R&D) is a very important part of the current US and international business climate, and certain tax incentives associated with these expenses are crucial to give innovators

It’s critical for business owners and independent contractors to comprehend the tax benefits associated with automobile expenses. Individuals or businesses that use their automobile for business purposes can deduct it

Gift and estate taxes are federal taxes imposed on the transfer of wealth from one individual to another, either during life or at death, based on the unified transfer tax.

Understanding marginal and effective tax rates can help taxpayers quickly clarify how much they owe the IRS based on their tax bracket and annual income. The US uses a progressive,

Lear & Pannepacker partner and real estate tax expert Dennis Kilfeather recently sat down with Greg Wareham of the Your Mortgage Process podcast to provide guidance on tax preparation for

When purchasing equipment, business owners are generally expected to spread the tax deduction over the life of the asset – called “depreciation.” Typically you cannot write off the entire purchase

Going into 2023, President Biden enacted a new law called the SECURE Act 2.0 that    makes changes to retirement savings accounts and employee benefit plans. This law goes into

As we approach the end of 2022, it is the perfect time to get organized for the upcoming tax season by being informed of significant tax law changes in addition

What is a scholarship and a grant? A scholarship is any amount paid to a student attending an educational institution for the purpose of study. A grant is similar to

For some people, it is unknown that prizes, awards, and gambling winnings are required to be recorded on your tax return. If the winnings are a small amount they are