The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being...

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this...

You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not...

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is...

The number of people engaged in the “gig” or sharing economy has grown in recent years. In an August 2021 survey, the Pew Research Center...

After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for...

If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans....

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind...

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax...

Awards and settlements are routinely provided for a variety of reasons. For example, a person could receive compensatory and punitive...

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are...

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to...

The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting...

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has...

With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its...

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for...

If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences? The...

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind...

If you own a valuable piece of art, or other property, you may wonder how much of a tax deduction you could get by donating it to...