Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some longstanding deductions. In response, the IRS recently issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages wil...

If you’re currently taking care of your children and elderly parents, count yourself among those in the “Sandwich Generation.” Although it may be personally gratifying to help your parents, it can be a financial burden and affect your own estate plan. Here are some cri...

"Retirement accounts are the worst place to turn for emergency money." 

Bill Harris, President W.V.H. Inc.*

So many of the people I meet while reviewing their financial situation or preparing their taxes are shocked at the cost of using their IRA, 401(k), 403(b) or non-q...

While accounting software has made bookkeeping and accounting easier for small businesses, it’s also made errors and accounting mistakes—from incorrectly categorizing a transaction to doing all accounting yourself—much more common.  Some accounting mistakes are minor,...

Today’s technology makes self-employment easier than ever. But if you work for yourself, you’ll face some distinctive challenges when it comes to your business. Here are some important steps to take:

1.  Learn your liability.  Self-employed individuals are liable for se...

Around this time of year, many people have filed and forgotten about their 2017 tax returns. But you could get an abrupt reminder in the form of an IRS penalty. Here are three common types and how you might seek relief:

1. Failure-to-file and failure-to-pay. The IRS wil...