Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
State laws generally govern the gaming industry. These laws can be very or less strict, depending on how the state views the industry, and most laws are aimed at promoting responsible...
The nation owes a debt of gratitude to veterans, yet sometimes these heroes come back home and pay huge taxes, which places a significant burden on them. This realization led to a...
Barter transaction happens when a business and another one exchange services with one another. While there are no funds exchanged with barter transactions, Uncle Sam believes you need...
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
For people that relocated to start a new job, they can deduct moving expenses. This deduction is available for people in the military. Rules for Military Qualification Military...
According to Uncle Sam, miscellaneous expenses are write-offs that cannot be classified into any tax category. Examples are work uniform, clothes, work, equipment, boots, alongside...
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...