The Next Estimated Tax Deadline Is January 15 If You Have To Make a Payment
The fourth estimated tax payment deadline for 2020 is coming up. Here are the details of when it is and whether you’re required to make a payment.
Divorcing Couples Should Understand These 4 Tax Issues
Getting a divorce can be distressing. You don’t want to make matters worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the midst of getting a divorce.
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
Do you Run Your Business From Home? You Might be Eligible for Home Office Deductions
Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
Can you deduct charitable gifts on your tax return?
You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not be the case anymore. Here’s why.
Expenses That Teachers Can and Can’t Deduct on Their Tax Returns
Are you an educator heading back to school and spending money out of your pocket to teach your students? You may be eligible for a special tax break.
If Your Kids Are Off to Day Camp, You May be Eligible for a Tax Break
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.
Donating Your Vehicle to Charity May Not be a Tax-Wise Decision
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.
The Chances of IRS Audit are Down But are You Prepared?
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.
How Entrepreneurs Must Treat Expenses on Their Tax Returns
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.