The Tax Issues Every Recreational Gambler Needs to Understand

Gambling comes in a variety of forms, from horse racing to sportsbook betting, from scratch-offs to bingo and from casino games to online gambling. For many gamblers, their annual losses will exceed their annual winnings. While many gamblers will not bother to report losses and ignore Uncle Sam’s requirements, you don’t have a choice when [...]

January 30th, 2019|Newsletter|

The Most Common Family Tax Mistakes

While giving a gift to your family member might seem like a nice thing to do, it can come with surprising tax implications. What tax mistakes are often committed by well-meaning family members? Renting a Home to a Family Member Whenever a taxpaying adult rents a home to a relative for a principal residence, the [...]

December 6th, 2018|Newsletter|

What Should You Do When Debts Survive Death?

Dealing with a death in the family is already tragic and stressful. Adding debt into the equation can make things even more stressful. If the debt in question was a credit card debt, the debt is expected to be repaid by the debt owner whether they are alive or dead. Who owes that obligation after [...]

March 20th, 2018|Newsletter|