Search Results

The IRS has announced the dollar limits on depreciation that can be claimed for cars and light trucks purchased for business and placed in service in 2009. The limits for passenger cars are the same a...

Withholding for federal (and where applicable) state income taxes on wages is mandatory, but you can tell employers whether you need additional withholding. Consider filing a new Form W-4 for 2023. ...

The interest rates paid on overpayments and underpayments remain the same in the fourth quarter of 2010 as they have been all year. Individuals will pay 4% on underpayments and receive interest of 4% ...

“Small” sole proprietors (those with average annual gross receipts under $15 million in the prior 3 years) who had a net operating loss (NOL) in a tax year beginning or ending in 2008 can ...

Uncle Sam owes you money because you overpaid your federal income taxes. When will you receive your tax refund? It depends on how you filed your return and how you told the IRS to send your refund. F...

As we ring in the New Year, there are three new tax changes to note for this year; two are favorable, but one is not. The sooner you know what they are, the sooner you can incorporate them into your ...

Usually, money in a 401(k) plan, a pension plan, or other qualified retirement plan is designed to provide retirement income and shouldn't be touched until retiring from the job. However, in these to...

Self-employed individuals who file Schedule C (or C-EZ) to report the income and expenses from their business activity should be aware that the IRS is on the lookout for those who underreport their i...

The $787 billion recovery package, called the American Recovery and Reinvestment Act of 2009, contains numerous tax breaks, primarily for low- and moderate-income taxpayers. Many of the breaks run fo...

Estates of decedents that have not used up their exemption amount ($12.06 million for decedents dying in 2022) may make a portability election, called the deceased spousal unused exclusion (DSUE). To ...