You might have a home where you stay for some time in a year while you rent it for the other part of the year. Doing this means you have to prorate the incurred expenses between rental...
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
The fair treatment of taxpayers is what the Taxpayer Bill of Rights is all about. In 2014, the IRS adopted this collection of 10 taxpayer rights proposed by the taxpayer's advocate....
Audits, collections, taxes, and fees - these conditions can sow fear in taxpayers' hearts during tax season.You may be concerned that an error in your tax return could result in...
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
When a taxpayer cannot pay the tax bill (now or in the future) with future assets and monthly income, they may qualify for the I.R.S. Offer in Compromise program—providing a...
Posted by Flynn Financial Group Inc on 01/23/2021
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...
Many taxpayers have concerns about the taxes they pay and wonder if there is a way for them to save on taxes. You will be surprised to know that the best answer to this question lies...