May 19, 2026 / by Brett Hess / Tax
Whether you’re relocating for work, retirement, family or lifestyle reasons, state taxes can have a significant financial impact. Taxes vary widely from state to state. And establishing residency for tax purposes may be more complicated than you expect. Before moving, be sure you understand how changing states could affect your overall tax situation. A variety […]
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When the Sale of an Appreciated Home Triggers Taxes — and When It Doesn’t
June 25, 2026 / by Brett Hess / Tax
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in the home, and your income […]
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Demystifying Like-Kind Exchanges
June 17, 2026 / by Brett Hess / Uncategorized
If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, a Section 1031 like-kind exchange may allow you to defer tax on some or all of the gain. With this transaction, you exchange one property for […]
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Important Tax Notice: You May Be Entitled to a Refund of COVID-Era Penalties & Interest
June 12, 2026 / by Brett Hess / Deadlines, Tax
Dear Client, We want to make you aware of an important recent court ruling that may benefit you. In Kwong v. United States, the U.S. Court of Federal Claims ruled that certain tax penalties and interest charged between January 20, 2020, and July 10, 2023, were improperly assessed under federal law. This covers tax filings […]
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The “Kiddie Tax” Can Apply Long After Childhood
June 10, 2026 / by Brett Hess / Tax
Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s unearned income may be taxed at the parent’s higher tax rate. The […]
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Protect Yourself from Fraudsters Impersonating the IRS and Other Tax Scams
May 27, 2026 / by Brett Hess / Uncategorized
Tax scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money. The IRS warns taxpayers to remain cautious because scammers continually change tactics to steal personal and financial information. IRS impersonation scams First […]
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Moving to a New State? Review the Tax Implications First
May 19, 2026 / by Brett Hess / Tax
Whether you’re relocating for work, retirement, family or lifestyle reasons, state taxes can have a significant financial impact. Taxes vary widely from state to state. And establishing residency for tax purposes may be more complicated than you expect. Before moving, be sure you understand how changing states could affect your overall tax situation. A variety […]
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2 Retirement Plans for Small Businesses with Lean Budgets
May 12, 2026 / by Brett Hess / Small Business
Most business owners would like to offer their employees a 401(k) retirement savings plan with all the bells and whistles. But for small businesses with lean budgets and small staffs, offering such benefits may be out of the question. Fortunately, SEP IRAs and SIMPLE IRAs are less expensive and easier to administer. Might one of […]
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Individual Tax Calendar: Key Deadlines for the Remainder of 2026
April 22, 2026 / by Brett Hess / Deadlines, Tax
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help you not miss any, here’s when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive. There […]
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Don’t Miss Your Opportunity to Make a 2025 IRA Contribution — Whether You Can Deduct It or Not
March 26, 2026 / by Brett Hess / Deadlines, Tax
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has passed, the opportunity to contribute for that year is lost forever. The deadline for 2025 IRA contributions is April 15, 2026. You may be eligible to […]
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Why You Might Want to Build a Wall Between Your Business and its Real Estate
March 19, 2026 / by Brett Hess / Uncategorized
Does your business own its real estate in a separate holding company, such as a limited liability company (LLC) or limited partnership? This practice can provide several advantages, including shielding property from your company’s creditors. It can also ease estate planning if, for example, you want to transfer business interests to your children while retaining […]
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