When Your Spouse Dies: The Tax and Medicare Hits Arrive Later To get my complete article with all the details… When your spouse dies, the tax return is the last thing on your mind. But federal law gives you a joint-filing window that lasts a year or more after the death — and once it closes, your tax bill can jump for good. Your rate brackets and standard deduction … [Read more...]
A $2,242 Tax Dispute. A $194,400 Home Lost. What Happened?
A $2,242 Tax Dispute. A $194,400 Home Lost. What Happened? To get my complete article with all the details… The Pung family disputed a $2,242 property tax bill involving a home the county valued at $194,400. They fought the tax assessment—and won. Twice. They still lost the house. Here are three things to know: 1. The home eventually reached a tax … [Read more...]
The 3-test Check for Your Health Insurance Deduction
The 3-test Check for Your Health Insurance Deduction To get my complete article with all the details… You pay for your own health insurance as a sole proprietor, partner, or S corporation owner and assume the deduction is automatic. It isn't — three separate tests decide whether those premiums count for the self-employed health insurance deduction. One test alone … [Read more...]
Deducting Your Personal Long-Term Care Insurance: The 2026 Rules
Deducting Your Personal Long-Term Care Insurance: The 2026 Rules To get my complete article with all the details… Long-term care insurance is a smart hedge against chronic illness, but most business owners pay for it the wrong way and hand the tax code an easy excuse to cap the deduction. How much of that premium you can deduct depends entirely on your business … [Read more...]
2026 Paid Family Leave Credit: Does the Owner Now Qualify?
2026 Paid Family Leave Credit: Does the Owner Now Qualify? To get my complete article with all the details… The paid family and medical leave credit just became permanent, and the rules around it changed enough that it's worth a second look even if you dismissed it before. Thanks to the One Big Beautiful Bill Act there’s an improved deal for some business owners: two … [Read more...]