Tips on the tax effects of divorce or separation

Income tax may be the last thing on your mind after a divorce or separation. However, these events can have a big impact on your taxes. Here are some key tax tips to keep in mind if you get divorced or separated. Child support. If you pay…

Job search expenses may be deductible

If you are looking for a new job, you may incur some expenses along the way that may be deductible. Here are some key tax facts you should know: Same occupation. Your expenses must be for a job search in your current line of work, not for…

Tax advantages of small business stock

Gains and losses on sales of corporate stock owned personally are generally treated as capital gains and losses. Although capital gains are potentially taxed at preferential rates, capital losses are usually unattractive because they can only…

How working impacts Social Security benefits

Continuing to work while receiving Social Security benefits may cause the benefit to be reduced below the anticipated amount. If you are under the full retirement age (currently 66), an earnings test determines whether your Social Security retirement…