Co-Director of Tax Services Larry Harris explains how to approach tax planning using both knowns and unknowns.
For the professional golfer, hitting your ball into the water has its price: It can be embarrassing. The internet is littered with stories and images of PGA Tour players dropping their trousers to take swings at errant, but playable, shots that have landed in hazard areas. It can cost you a tournament. Greg Norman, the …
Debt can sure come in handy when buying a major asset like a house or car or managing unexpected expenses. Thankfully, the interest you pay on this debt can often provide a helpful deduction on your tax return. However, the IRS is very specific regarding the situations where interest is or is not deductible. The rules can be quite complex, so a discussion with your tax professional is always a good idea. Here are several typical examples of how the IRS treats interest payments.