Taxpayers can avoid unplanned taxes and penalties by carefully following rules for contributions to and distributions from tax-favored education savings vehicles and making sure distributed funds are used for "qualified higher education expenses."
Tax Planning; Tax Minimization
This semiannual update covers recent developments affecting individuals and discusses a number of pandemic-related developments.
A surviving spouse has the option to file a joint return for the deceased spouse’s year of death, but several factors must be considered to determine if this is a good idea.
This article discusses the applicable deadlines for individuals for investing in a QOF and obtaining tax deferral.
This article discusses income-based plans and how married couples with student loan debt may minimize their current loan payments by filing separately instead of jointly.
This article examines the student loan burden in the United States, reviews programs designed to assist borrowers with repayment, and discusses debt forgiveness issues.
This discussion focuses on how Sec. 1231 and various loss disallowance provisions affect the QBI deduction.
A trust set up as part of a divorce settlement can ensure economic protection of the couple’s long-term obligations and provide tax benefits.
This article focuses on two opportunities beneficial to both employers and employees: (1) Sec. 139 disaster relief payments and (2) Sec. 127 educational assistance payments.