News

As a small business owner, you might hesitate to establish a retirement plan due to the administrative complexities involved. However, there are two alternatives worth considering that come with fewer requirements than traditional qualified retirement plans.

Are you considering bringing your high-school- or college-age child into your business this summer? If you hire him or her, it could be a smart move with substantial tax advantages.

Unpaid taxes withheld from your company’s employees might come back to bite you harder than you think. Find out how the 100% penalty can sink its teeth into your personal finances.

After filing, you may want to do some spring cleaning and discard tax documents. But don’t throw away records you might need in the case of an IRS audit. Here are the rules.

April 15 is double trouble! Of course, it’s the deadline for filing your 2024 tax return but there’s another important deadline that day.

Unless you’re eligible for an exception, you may not be able to deduct rental real estate tax losses for years. Here are the details of the exceptions.

You may feel you’re the head of your household if you’re married, single, divorced, a parent or child-free. However, only certain people can file a tax return with the favorable “head of household” status. Here are the rules.

No matter how meticulous your business is, payroll taxes can be complex. Here are six quick tips to help you stay on track.

Thinking about lending money to a family member or friend? There may be tax implications you should understand.

Business owners have several options when planning for succession. Here are five to consider, along with the tax implications.

If you invest in the stock market, you’ve probably owned some losing shares. Here are the rules for claiming losses on your tax return for depreciated or worthless stock.

If you’re commuting to work and your employer offers tax-free transportation fringe benefits, you need to read this.

When starting a new business, you have several entity options to consider. One option is an S corporation. Here are some of its advantages.

The April 15 tax filing deadline is just around the corner. Keep in mind that it’s also the deadline for filing a gift tax return if you made large gifts last year. Find out if you must file a 2024 gift tax return and if not, why you may want to file one anyway.

Years ago, businesses used to be able to claim a tax deduction for most business-related interest expense. The Tax Cuts and Jobs Act changed that. Here’s the current situation.

To itemize deductions or not to itemize deductions? Here’s how the decision is made.

Small business owners who work from home may be able to reduce their tax bills with home office deductions. Are you eligible?

The tax rules for business losses from partnerships, S corporations and LLCs can be complex. Here’s what you need to know when filing your tax return.

The best way to grow your nest egg is to save for retirement today. There’s still time if you’re eligible and you didn’t contribute the maximum amount allowed in 2024 to a traditional IRA or SEP.

The Child Tax Credit is a critical resource for millions of families. But under current law, many taxpayers will see the credit cut in half in 2026 if Congress doesn’t act this year.

You may have heard about proposals to end taxes on tips. If you’re a business with employees who receive tips, how should you proceed?

It’s common to wait until the last minute to file your federal tax return. But are there reasons to file early? Here’s the answer to that and other tax-filing questions.

Is retirement on the horizon? Plan ahead for the tangle of tax implications you may face.

How much of your 2025 earnings are taxed for Social Security? How has the standard deduction increased in 2025? Here are some answers to these and other tax questions you may have.

An important deadline is coming up fast for businesses with workers. Here’s what’s due on Jan. 31.