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There is good news for those buying or leasing personal use electric vehicles, the federal tax credit has been extended through 2023, though it is limited to only electric vehicles that adhere to strict domestic source rules for batteries.
Author Archives: Berger
Answers to Five Questions about Section 105 Medical Plans
The Section 105 Medical Plan is suitable for single-owned businesses. It creates deductions that were not available earlier
Take advantage of the once-in-a-lifetime IRA-to-HSA rollover
HSAs (Health Savings Accounts) are specifically intended to help with paying medical expenditures. But in a deeper sense, an HSA can easily be….
NFTs and Taxes: New Rules and What you need to Know
A Non-Fungible Token is an asset that is purchased and sold digitally. Like any other trading option, individuals have obtained..
Retirement Account Early Withdrawal Penalties: Avoid Them
Do you want to spend the retirement money in your account? Here are some cautions you need to take to avoid early withdrawal penalties.
SECURE 2.0 Adds New Escapes from the 10% Early Withdrawal Penalty
During withdrawal from your IRA or retirement funds before the age of 59 ½ years,…
Plan Your Passive Activity Losses for Tax-Deduction Relevance
The Passive Law Rules devised in the year 1986 is still misunderstood even decades later.
The SECURE 2.0 Act Creates New Tax Strategies for RMDs
Individuals holding tax-deferred retirement accounts or IRAs
Are You Cheating Yourself by Using IRS Mileage Rates?
Bought a new SUV and want to know if you qualify for IRS mileage rates.
Tax Consequences of a Short Sale of Your Principal Residence
Real estate has reached a saturation point and it is predicted to experience a..