Interest on personal loans and credit cards is generally not a deductible expense. But one important exception to this general rule is when you use a personal credit card or…
Hurricane season is winding down and it looks like those of us in South Florida might be in the clear until 2020. But recently a client asked the following question:…
401(k) assets are generally not accessible to employees until they reach retirement age or leave their job. This can be frustrating to employees who are in urgent need of funds,…
When an investor sells a stock or mutual fund that produces a loss, this capital loss reduces taxable income by first offsetting any capital gains, and then by reducing taxable…
In our previous post, we discussed the federal tax implications of living and working in different states. A more complicated matter is the issue of state income taxes. Here is…
In today’s highly mobile society, it’s not unusual for people to live and work in different states, and that mobility can have tax implications. In this two-part series, we will…