The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost.

Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA.

The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions.

Business owners: Your financial statements might seem like so many numbers organized into rows and columns, but they could very well hold the data points you need to make the right moves this year.

Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them.

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group of similar items) worth more than $5,000, certain appraisal requirements apply.

The April tax filing deadline has passed, but that doesn’t mean you should push your taxes out of your mind until next year. Here are three tax-related actions that you should consider taking in the near term (if you filed on time and didn’t file for an extension).

Coin collecting, photography, painting, writing, horse breeding and crafts are just some of the hobbies that taxpayers turn into businesses. Can they deduct the losses they incur on their tax returns?