If you’re getting close to retirement age, you may be wondering if your Social Security benefits are going to be taxed. And if so, how much will you have to pay?
Business owners have been engaging in bartering transactions for hundreds of years. But if your company trades goods or services today, be aware there are tax consequences.
If you meet certain requirements, you may be eligible for a tax break on summer day camp expenses you pay for your child. Here is a rundown of the rules.
In the past couple of years, major changes have been made to the taxation of both C corporations and pass-through entities (including sole proprietorships). So what’s the best entity choice for your small business?
Although you might want to enjoy the lazy days of summer, employers and businesses shouldn’t take it so easy that they miss these important Q3 2019 tax deadlines.
A tax deduction isn’t the only reason for donating a vehicle to charity. But if you’re counting on one, make sure you understand the rules. You may wind up with a small deduction
or none at all.
If payroll taxes withheld from employees’ paychecks aren’t remitted to the federal government, a severe tax penalty can be personally imposed on “responsible” individuals.
New hires from certain disadvantaged “targeted” groups may qualify your business for the Work Opportunity Tax Credit. Here’s an overview of this potentially valuable tax break, including how it’s calculated.
Many people dream of retiring to another state to take advantage of warm weather or to be close to loved ones. But before you call the moving truck, consider the impact of state and local taxes.
An IRS audit may be nothing to lose sleep over. In many cases, the IRS closes an audit after receiving requested documentation. Here are the latest audit statistics, as well as some tips on how to survive an IRS examination.
Are you going on a business trip within the United States this summer? You might be able to add on some vacation days and deduct some of your expenses.
Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You can save taxes and reap other benefits.
If you were shocked by a bigger tax bill in 2019, you might not be having the right amount of tax withheld from your paycheck. We’ll tell you how to avoid this next year.
Are you selling your principal residence? You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here are the tax rules for home sales.
In most cases, refunds are routinely sent to taxpayers within a few weeks. However, there may be delays, or, in worst-case scenarios, refunds may be applied to debts owed to the federal or state governments.
If you spend money in the course of doing business, you want to be able to write it off on your tax return. But in order to be deductible, expenses must meet certain requirements. Here are the rules.
Are you interested in joining the growing ranks of plug-in electric vehicle owners? Find out about the federal income tax credit you might be able to claim.
Starting a new business can be a hectic, exciting and expensive time. Be aware that not all start-up expenses can be deducted on your tax return right away. Some may have to be amortized over time.
Just because your tax return has been filed doesn’t mean you don’t still have questions. We’re often asked about refund status, record retention and amended tax returns. Here are some answers.
The treatment of food, beverage and entertainment expenses became more complicated after the Tax Cuts and Jobs Act. Here’s how to get the biggest tax-saving bang for your business meal bucks.