The straight line

Not that long ago, it was considered distasteful to mention a competitor’s name or show its trademark in ads. Instead the advertising industry came up with phrases like “Brand X” and “The Leading Brand.” Today, many ads go right for the gut: You can’t go a day without seeing bar graphs, taste tests and surveys directly...

The reporting requirements for claiming charitable contributions of cash on your tax return can be strict. If you don’t follow them, your deductions may be disallowed by the IRS. You should also be aware that stringent rules also apply to donations of non-cash property. Let’s review the key tax rules. Cash gifts: You cannot claim an itemized...

If you use part of your home as an office and take deductions for related expenses on your annual tax return, can you claim a valuable federal tax break when you sell? Specifically, can you claim the home sale gain exclusion of up to $250,000 for single taxpayers ($500,000 for married couples filing jointly)? In many cases,...

The IRS recently announced special tax relief for leave-based donation programs set up by employers to assist victims of Hurricane Harvey and Tropical Storm Harvey. Basics of Employer Programs Under a leave-based donation program, an employer can allow its employees to forgo their vacation, sick, or personal time off in exchange for cash payments made by...

Reverse mortgages have been around for years. But they’re getting a new spin: Some senior homeowners are tapping into their home equity to “bridge the gap” until the time they’re ready to apply for Social Security benefits. However, an independent consumer agency — the Consumer Financial Protection Bureau (CFPB) — is cautioning retirees against using this...

Back-to-school season is a good time to review the federal tax breaks that are currently available if you or a loved one will be attending college or graduate school this fall. After all, a higher education degree is one of the biggest investments you’ll ever make. Cost Overview How much does an advanced degree typically cost?...