One significant tax benefit of owning residential rental property or non-residential commercial or investment property is depreciation—a deduction you get without spending any additional money.

The IRS allows you to write off the old roof or component when you replace it on your rental property. The write-off of the old component creates three major tax benefits for you.

If you own a timeshare and use it only for personal and business lodging, you have a unique opportunity to maximize your tax benefits.

As you consider winding down your partnership, here’s a concise overview of what you might expect under three typical scenarios of partnership dissolution.

What happens if your child or other beneficiary doesn’t use all the money in the 529 account or decides not to go to college?

When you own and operate a business, you must exercise vigilant oversight, including watching over your payroll taxes. Here’s an example of why.