Archive

06Aug2018

So Long To The Tax Deduction For Investment Expenses

    Article Highlights:   Itemized Deduction Net Investment Income Investment Interest Deduction Surtax on Net Investment Income Retirement Account Fees Under the new tax reform law, investment expenses are no longer deductible as a miscellaneous itemized deduction. This means, for example, that if you have an investment account and are paying fees to have

02Aug2018

How Long Should You Hold On To Old Tax Records?

    Article Highlights:   The general statute: 3 years Longer durations in some states Fraud, failure to file and other issues that extend the statute’s duration Keeping the actual return Ordering copies of previously filed returns This is a common question: How long must taxpayers keep copies of their tax returns and supporting documents?