Legal fees and expenses incurred by you on your son's behalf cannot be expensed. They become part of the acquisition cost and will go towards the basis of the p...
The bonus deduction of $6000 is an additional deduction to the standard deduction for each taxpayer on the return over the age of 65 with a valid Social Securit...
When you withdraw funds from a Traditional IRA/401K, you will pay taxes on it. If you are 59 1/2 years or older you would not have to pay penalty on the withdra...
You must itemize to get the new car sales tax deduction. This has not changed in the One Big Beautiful Bill that passed. The new car sales tax is only deductibl...
If he was married filing a joint tax return with $1,000,000 in long term capital gains and all other income was below $96,700 for 2025, then yes the capital gai...
