Lending to friends and relatives can be tricky, and not only because of the stress it can place on your relationships. There are tax issues involved as well. If you must lend money to someone close to you, here are some tips to do it right in the eyes of the tax code. Charge interest Yes, you …
taxes
The Fight for State Tax Dollars: Understanding “Domicile”
If you work remotely in a state different from where you reside, or you are thinking about changing your residence from one state to another, you may be at risk of a state tax conundrum. State tax collectors are highly motivated to make sure that their state receives as many tax dollars as possible. …
Taxes: The Marriage Penalty
There are a lot of positive things about getting married, but the IRS' “marriage penalty” isn't one of them. The marriage penalty occurs when you pay more tax as a married couple than you would as two single filers making the same amount of money. This “penalty” pops up in a variety of places in the …
