For Individuals Archives - Siepert & Co., LLP Certified Public Accountants

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Money Market vs. High-Yield Savings Accounts

There are differences between Money Market and High-Yield savings accounts. Learn how they differ and which ones might be right for you.

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Young man at home calculating and stressing about what to do with his canceled debt.

Understanding the Tax Consequences of Canceled Debt

When you borrow money and are legally obligated to repay it, you have a debt. If a creditor later forgives that debt or agrees to accept less than the full amount owed, the unpaid balance is generally regarded as canceled debt. Cancellation can occur for various reasons, such as when a creditor formally forgives a… View Article Read Entire Article

US dollar money on the beach, symbolizing taxpayer advice for passive income and financial independence.

Never Mind April 15: It’s Tax Time Now!

It’s halfway through the year, and the IRS advises it's a great time for taxpayers to do a quick check to make sure they’re on a smooth track to next filing season. Read their tips here.

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Runners standon a podium representing a new stage of life after retirement.

Retirement: Redesigning the Third Act

Explore purpose in retirement to create a meaningful and rewarding Third Act.

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Understanding Trump Accounts

Trump Accounts explained: these new tax-advantaged accounts are designed to help families build long-term savings for children. Learn how they work, who qualifies, and what to consider when deciding if they fit your financial plans.

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Are Children Still Dependents After They Turn 17?

Child dependent after 17 rules can impact your taxes more than you think. Find out if you can still claim a dependent, what credits apply, and how IRS rules affect your situation. Understanding these details can help you avoid missed opportunities and make more informed tax decisions.

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Overhead view of desk with calculator, model airplane, and globe as a hand calculates travel expenses.

Travel and Expense Management Out of Control? Here’s How to Fix It

Still using paper receipts for business trips? Learn how travel and expense management QuickBooks tools can automate expense tracking, reduce errors, and simplify reporting for your accounting team.

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Young family standing in front of their house holding a “Home For Sale” sign with arms raised.

How Taxes Can Affect Your Home Sale

Capital gains tax on home sale can significantly affect how much profit you keep when selling your property. Depending on how long you’ve owned the home and whether it qualifies as your principal residence, some or all of the gain may be taxable. Understanding the rules before listing your home can help you plan ahead and avoid surprises.

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Senior couple enjoying coffee on the outdoor steps of their home, reflecting on finding purpose in retirement during a peaceful morning together.

What You Owe Yourself in Retirement

Finding purpose in retirement is about more than financial planning. Without thoughtful preparation, the transition can feel overwhelming as you redefine your identity and life after work.

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Woman holding a young child in her arms while both of them look at the camera.

Qualifying for the Child or Dependent Care Tax Credit

The Child and Dependent Care Tax Credit helps working families offset the cost of qualifying care expenses. Child and dependent care costs can take a big bite out of your budget. To help ease the load, the IRS offers a tax credit for qualifying care expenses incurred while you (or your spouse, if filing jointly) are working or looking for work.

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