Kelly Green-Krist's (kgreenkrist) Blog

I wanted to take this opportunity to touch base regarding the federal income tax rules on the “kiddie tax” and its potential impact on your financial strategy for your child(ren).In brief, the kiddie tax was enacted by Congress to prevent parents from passing investment income to their children, ...

Here’s some crucial information on how to document expenses during business travel.Corporation or proprietorship? If you operate as a corporation, the corporation should reimburse you for the travel expenses or pay for them directly. Remember, you can’t deduct employee business expenses on Form 1...

Are you considering a bold tax position that may significantly reduce your taxes? If approved by the IRS, it’s a win. But if disapproved, be prepared to face a considerable tax penalty.The IRS imposes a 20 percent penalty for substantial tax underpayment. For instance, if the IRS finds you underp...

Here’s some information on how you can help a family member buy a home by making a loan to them while ensuring that you and the family member benefit from a tax-smart loan structure.With the current national average interest rates for 30-year and 15-year fixed-rate mortgages at 6.71 percent and 6...