How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with ...

Your 2025 tax planning checklist: Essential moves for high earners Tax strategy doesn’t just happen in April. While it may feel like you just filed your 2024 taxes a minute ago, the time to set ...

The backdoor Roth IRA is a legal tax strategy that allows high earners to bypass income limits and access tax-free growth through a Roth IRA. For 2025, if your income exceeds $165,000 (single) or $246 ...

The gift of cash is always a good way to show your appreciation, but giving someone stocks can be a powerful way to pass along wealth and introduce them to investing. In this guide, you’ll learn the ...

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...