If you are like most taxpayers, you have tax records from years ago that you are afraid to throw away. Read our blog article to learn more about how long records must be kept and which documents should be retained.
Tax Accounting Humor Friday
A commonly asked question is whether inherited assets are taxable. Generally, they are not until they are sold, and then only to the extent that the sales price exceeds the fair-market value of the asset at the time of the decedent's death. There are exceptions to this rule, such as traditional IRAs and other deferred untaxed income of the decedent. Learn more.
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Is an Inheritance Taxable?
Wednesday Wisdom
What are the tax consequences of a legal settlement or award? That depends on the nature of the lawsuit and the type of award. Learn more.
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Taxation of Legal Settlements or Awards
Tax Accounting Humor Friday
HAI Global - The Human Awareness Institute
November 6 at 1:20 PM ·
All of your feelings are valid and all are welcome. 🤟
