SmartMoney.com recently posted an article about “hidden” tax truths. Here’s a condensed and updated version. Read More

Under the new economic stimulus law—the American Recovery and Reinvestment Act of 2009—you can deduct state and local taxes paid to purchase a new vehicle. The rules seem straightforward enough, but watch out for a few interesting twists and turns. Read More

The new economic stimulus law subsidizes the cost of continuing COBRA medical coverage for some employees who have lost, or will lose, their jobs. But the burden of paying the rest of the premiums has shifted to employers. Read More

You now have a new tax incentive to invest in fledgling corporations, thanks to the new economic stimulus law. You might even want to plow some money into your own company. Read More

If an elderly parent or in-law is having trouble making ends meet, you might help him or her pay the rent or other expenses. In return, Grandma or Grandpa may gladly volunteer to watch your children while you and your spouse work. Read More

A savvy real estate owner can postpone tax by selling property on the installment sale basis. But you may be able to postpone the tax bill even further. Read More

The new economic stimulus law almost doubles the amounts employees may receive for some tax-free transportation benefits. Initially, employees were eligible to receive transit passes and van pooling benefits valued up to $120 per month for 2009 without owing any federal income tax. Read More

If you operate a business that is open to the general public, you’re legally obligated to make the premises accessible to disabled people. Similarly, you might update the facilities for disabled employees in your office. At least you can salvage some tax benefits when you modify the building. Read More

A 2008 tax law temporarily suspended the rule for required minimum distributions (RMDs) from qualified plans and IRAs for the 2009 tax year, but confusion still exists. Read More

President Obama’s budget outline is casting a long shadow over tax planning. Although the proposed tax changes generally would not take effect until 2011, upper-income individuals and businesses would shoulder the brunt of the burden. Some of the key proposals reinstate the two top individual tax rates of 36% and… Read More