Most taxpayers have never had a reason to go to court. Going to court can be intimidating because on the other side of the case is the IRS. Find out how the tax court works and how...
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...
One of the most proven methods to bring down your tax return is to take advantage of tax deductions. It allows you to deduct expenses related to driving like fees and tolls taken by...
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...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
A day trader employs the rise and fall of stock prices, hoping that it will result in net profit over a year. This means there will be a tax on the proceeds. There are, however,...
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...
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...
The same way all workers pay income taxes in the United States, pastors, clergy, and ministers must pay income taxes. However, there are some tips and considerations people in this...