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A tax credit is a valuable write-off. It reduces your tax bill dollar for dollar. Now, there is a growing number of federal tax credits that you can use that will pay you money even if the credit is m...

Twitter. YouTube. Now you can add Tumblr to the list of social media sites where you can find the IRS. Here you can view videos, podcasts, and more about taxes from the IRS. The IRS expects to shar...

The Tax Cuts and Jobs Act (TCJA) made numerous changes in tax law. Many of the changes will show up on your 2018 return, which won’t be filed until 2019. But don’t wait to take action now that can...

The SECURE Act made some major changes in retirement plans and IRAs. It also has left many unanswered tax questions. There continues to be many that still lack clarity because the IRS has not addresse...

Call it role reversal, but a growing number of children are caring for their parents. According to a 2007 USA TODAY/ABC News/Gallup poll of baby boomers, 41% who had a living parent were providing fin...

You have a unique opportunity to shelter your business profits in a retirement plan and save money for your future. The tax law encourages this by allowing you to deduct contributions, defer tax on e...

As December comes to a close, so too do the possibilities for cutting your 2007 tax bill and planning ahead for 2008 for job-related benefits. Take time to assess your current selections and how to u...

This year—2022—has been a tough time for profits in securities, realty, and other assets. Tax rules may allow for write-offs, but not in all situations. Here are 5 things to know. 1. Capital lo...

While most work-related payments are taxable, there are some exceptions. Early in 2007, the Tax Court said that payments to disabled veterans under the Veterans Administration's work therapy prog...

Homeowners can exclude gain on the sale of their principal residence up to $250,000 ($500,000 on a joint return); for many homeowners this means tax-free sales proceeds. However, to claim this break,...